Bridgefront Capital LLC Buys New Stake in SEI Investments (NASDAQ:SEIC)

Bridgefront Capital LLC bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,185 shares of the asset manager's stock, valued at approximately $345,000.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after buying an additional 60,307 shares during the period. Boston Trust Walden Corp lifted its holdings in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after acquiring an additional 20,020 shares during the period. FMR LLC boosted its position in shares of SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after buying an additional 46,425 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after buying an additional 184,339 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SEIC. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Piper Sandler lifted their price target on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, SEI Investments has an average rating of "Moderate Buy" and a consensus price target of $87.60.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.30% of the company's stock.

SEI Investments Trading Up 0.2 %

Shares of NASDAQ SEIC traded up $0.15 during midday trading on Friday, reaching $81.49. 429,669 shares of the stock were exchanged, compared to its average volume of 657,151. The stock has a 50 day moving average price of $75.17 and a 200-day moving average price of $79.52. The company has a market capitalization of $10.14 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. On average, analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.