CANADA LIFE ASSURANCE Co Reduces Holdings in SEI Investments (NASDAQ:SEIC)

CANADA LIFE ASSURANCE Co lowered its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,725 shares of the asset manager's stock after selling 4,533 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.08% of SEI Investments worth $8,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its holdings in shares of SEI Investments by 12.2% in the 3rd quarter. MML Investors Services LLC now owns 3,472 shares of the asset manager's stock valued at $240,000 after acquiring an additional 377 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of SEI Investments in the 3rd quarter valued at $374,000. Franklin Resources Inc. increased its holdings in shares of SEI Investments by 17.8% in the 3rd quarter. Franklin Resources Inc. now owns 320,482 shares of the asset manager's stock valued at $22,799,000 after acquiring an additional 48,429 shares during the period. DGS Capital Management LLC increased its holdings in shares of SEI Investments by 14.4% in the 3rd quarter. DGS Capital Management LLC now owns 11,518 shares of the asset manager's stock valued at $797,000 after acquiring an additional 1,448 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of SEI Investments by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager's stock valued at $35,143,000 after acquiring an additional 60,824 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Down 1.0 %

NASDAQ SEIC traded down $0.81 during trading hours on Monday, hitting $77.78. 687,717 shares of the stock were exchanged, compared to its average volume of 652,273. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The stock has a 50-day moving average of $75.14 and a 200 day moving average of $79.09.

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

SEI Investments declared that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Thursday. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday. Morgan Stanley reaffirmed an "overweight" rating and issued a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a report on Thursday. Finally, Piper Sandler increased their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average rating of "Moderate Buy" and a consensus target price of $87.60.

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.