Ethic Inc. Sells 5,531 Shares of SEI Investments (NASDAQ:SEIC)

Ethic Inc. lessened its position in SEI Investments (NASDAQ:SEIC - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,472 shares of the asset manager's stock after selling 5,531 shares during the quarter. Ethic Inc.'s holdings in SEI Investments were worth $369,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of SEI Investments by 7.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock worth $174,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC lifted its position in shares of SEI Investments by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after buying an additional 145 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Up 0.0%

Shares of NASDAQ:SEIC traded up $0.04 during trading on Tuesday, hitting $85.59. 819,523 shares of the company's stock traded hands, compared to its average volume of 667,722. The company has a 50-day moving average price of $76.28 and a 200-day moving average price of $79.93. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

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

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider now directly owns 23,895 shares in the company, valued at $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SEIC. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. StockNews.com raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday. Piper Sandler increased their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

SEI Investments 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.