ProShare Advisors LLC Sells 32,755 Shares of SEI Investments (NASDAQ:SEIC)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after acquiring an additional 60,307 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after purchasing an additional 20,020 shares during the last quarter. FMR LLC lifted its holdings in shares of SEI Investments by 39.3% during the fourth 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. Bank of New York Mellon Corp increased its position in shares of SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after purchasing an additional 46,425 shares during the period. Finally, Northern Trust Corp grew its position in SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after acquiring an additional 184,339 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $82.00 price target (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.60.

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's 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 completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock worth $13,925,963 over the last 90 days. 14.60% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

SEIC stock traded down $0.50 during trading on Wednesday, hitting $85.09. 247,673 shares of the company traded hands, compared to its average volume of 667,774. The company has a market cap of $10.59 billion, a PE ratio of 19.25, a P/E/G 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. The stock's 50-day simple moving average is $76.55 and its 200 day simple moving average is $79.97.

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, beating analysts' consensus estimates of $1.12 by $0.05. The company had revenue of $551.34 million during 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% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. Research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding 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 typically an indication that the company's management believes its stock is undervalued.

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.