Pinebridge Investments L.P. Decreases Stake in SEI Investments (NASDAQ:SEIC)

Pinebridge Investments L.P. decreased its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 6.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 133,081 shares of the asset manager's stock after selling 9,450 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.10% of SEI Investments worth $10,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Southernsun Asset Management LLC grew its stake in shares of SEI Investments by 1.6% during the 4th quarter. Southernsun Asset Management LLC now owns 66,649 shares of the asset manager's stock worth $5,497,000 after acquiring an additional 1,068 shares during the period. Tower Research Capital LLC TRC boosted its stake in SEI Investments by 35.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,466 shares of the asset manager's stock worth $533,000 after purchasing an additional 1,678 shares during the period. MetLife Investment Management LLC boosted its stake in SEI Investments by 8.3% in the 4th quarter. MetLife Investment Management LLC now owns 55,261 shares of the asset manager's stock worth $4,558,000 after purchasing an additional 4,219 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in SEI Investments by 47.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,382 shares of the asset manager's stock worth $2,176,000 after purchasing an additional 8,450 shares during the period. Finally, Carbahal Olsen Financial Services Group LLC bought a new position in SEI Investments in the 4th quarter worth about $330,000. Institutional investors own 70.59% of the company's stock.

SEI Investments Stock Down 0.0 %

Shares of NASDAQ SEIC traded down $0.03 during trading hours on Tuesday, reaching $77.75. 110,030 shares of the stock traded hands, compared to its average volume of 650,148. The company has a market capitalization of $9.78 billion, a P/E ratio of 17.59, a price-to-earnings-growth 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. The company's 50-day simple moving average is $75.14 and its two-hundred day simple moving average is $79.09.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. As a group, sell-side analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley restated an "overweight" rating and issued a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research note on Thursday. Piper Sandler raised their target price on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% of the company's stock.

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.