SEI Investments (NASDAQ:SEIC) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP lowered its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 77.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,564 shares of the asset manager's stock after selling 25,662 shares during the quarter. Dark Forest Capital Management LP's holdings in SEI Investments were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SEIC. Geode Capital Management LLC grew its position 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 last quarter. Boston Trust Walden Corp boosted its stake 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 in the last quarter. FMR LLC increased its position in shares of SEI Investments by 39.3% during the fourth 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 grew its stake in SEI Investments by 4.1% during the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SEI Investments by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock valued at $55,124,000 after acquiring an additional 3,967 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 $568,868,356. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred 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 owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on SEIC shares. StockNews.com raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Morgan Stanley restated an "overweight" rating and issued a $82.00 price target (up previously from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.60.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $0.15 during mid-day trading on Thursday, hitting $78.44. 97,316 shares of the company traded hands, compared to its average volume of 651,777. The firm's 50 day simple moving average is $75.01 and its 200 day simple moving average is $79.08. The firm has a market cap of $9.86 billion, a P/E ratio of 17.75, a PEG 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 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. The business had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. Equities research analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated 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 buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

About SEI Investments

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.