MetLife Investment Management LLC Purchases 4,219 Shares of SEI Investments (NASDAQ:SEIC)

MetLife Investment Management LLC grew its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,261 shares of the asset manager's stock after acquiring an additional 4,219 shares during the quarter. MetLife Investment Management LLC's holdings in SEI Investments were worth $4,558,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of SEI Investments in the fourth quarter valued at $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments in the 4th quarter valued at about $42,548,000. FMR LLC increased its stake 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 during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of SEI Investments in the 4th quarter valued at about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in SEI Investments in the 4th quarter valued at about $23,710,000. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have issued reports on SEIC. StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.60.

SEI Investments Stock Performance

Shares of SEIC stock traded up $0.25 on Wednesday, hitting $78.29. The company's stock had a trading volume of 909,972 shares, compared to its average volume of 653,959. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company has a market capitalization of $9.84 billion, a PE ratio of 17.71, a PEG ratio of 1.41 and a beta of 0.90. The stock's 50 day moving average is $75.01 and its 200-day moving average is $79.08.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 27.35% and a return on equity of 25.51%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, research analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are 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.