Crestwood Advisors Group LLC Cuts Stake in SEI Investments (NASDAQ:SEIC)

Crestwood Advisors Group LLC lowered its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 51.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,276 shares of the asset manager's stock after selling 116,141 shares during the period. Crestwood Advisors Group LLC owned approximately 0.08% of SEI Investments worth $6,881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SEIC. AlphaQ Advisors LLC bought a new stake in shares of SEI Investments during the 4th quarter worth approximately $247,000. Cerity Partners LLC lifted its holdings in shares of SEI Investments by 4.1% during the 4th quarter. Cerity Partners LLC now owns 10,739 shares of the asset manager's stock worth $682,000 after acquiring an additional 420 shares during the period. Custom Index Systems LLC bought a new stake in shares of SEI Investments during the 4th quarter worth approximately $501,000. Sequoia Financial Advisors LLC bought a new stake in shares of SEI Investments during the 4th quarter worth approximately $229,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of SEI Investments by 639.3% during the 4th quarter. International Assets Investment Management LLC now owns 4,576 shares of the asset manager's stock worth $291,000 after acquiring an additional 3,957 shares during the period. Institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

SEIC stock traded down $1.36 during trading on Friday, reaching $67.48. 384,889 shares of the company were exchanged, compared to its average volume of 517,471. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The company has a 50-day moving average of $68.50 and a two-hundred day moving average of $62.90. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.41 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The company had revenue of $484.86 million during the quarter, compared to analysts' expectations of $481.39 million. During the same period in the prior year, the company posted $0.83 earnings per share. On average, analysts forecast that SEI Investments will post 4.08 EPS for the current year.

SEI Investments announced that its Board of Directors has approved a share repurchase plan on Friday, December 15th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now directly owns 7,884,834 shares in the company, valued at $557,852,005.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the transaction, the chairman now directly owns 7,884,834 shares of the company's stock, valued at $557,852,005.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Klauder sold 2,000 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $69.80, for a total transaction of $139,600.00. Following the completion of the sale, the executive vice president now owns 20,752 shares of the company's stock, valued at $1,448,489.60. The disclosure for this sale can be found here. Insiders sold a total of 206,333 shares of company stock worth $14,481,612 over the last three months. 15.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

SEIC has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler upped their price objective on shares of SEI Investments from $66.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $70.25.

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.