ProShare Advisors LLC Has $37.23 Million Stock Position in SEI Investments (NASDAQ:SEIC)

ProShare Advisors LLC lowered its position in SEI Investments (NASDAQ:SEIC - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 451,354 shares of the asset manager's stock after selling 32,755 shares during the period. ProShare Advisors LLC owned 0.35% of SEI Investments worth $37,228,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SEIC. Norges Bank bought a new position in shares of SEI Investments in the fourth quarter worth about $48,009,000. Raymond James Financial Inc. acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $42,548,000. FMR LLC lifted its holdings in 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 buying an additional 348,112 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in SEI Investments in the 4th quarter valued at $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of SEI Investments in the 4th quarter valued at $23,710,000. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction 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 in the company, valued at approximately $104,507. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,214 shares of company stock worth $13,925,963. Insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

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

SEI Investments Trading Up 0.0%

SEIC stock traded up $0.04 during mid-day trading on Tuesday, hitting $85.59. 819,523 shares of the company were exchanged, compared to its average volume of 726,991. The business has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $79.93. The stock has a market capitalization of $10.65 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

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

SEI Investments announced that its Board of Directors has authorized 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 purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management 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.