Man Group plc Increases Stake in SEI Investments (NASDAQ:SEIC)

Man Group plc increased its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 206,242 shares of the asset manager's stock after buying an additional 10,233 shares during the quarter. Man Group plc owned about 0.16% of SEI Investments worth $17,011,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in SEI Investments during the 4th quarter valued at about $1,072,000. Nuveen Asset Management LLC lifted its position in SEI Investments by 12.0% during the fourth quarter. Nuveen Asset Management LLC now owns 283,719 shares of the asset manager's stock valued at $23,401,000 after purchasing an additional 30,496 shares during the period. MJP Associates Inc. ADV purchased a new stake in SEI Investments in the fourth quarter worth approximately $360,000. Lazard Asset Management LLC boosted its holdings in SEI Investments by 42.0% in the fourth quarter. Lazard Asset Management LLC now owns 15,318 shares of the asset manager's stock worth $1,262,000 after purchasing an additional 4,532 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new stake in SEI Investments in the 4th quarter worth approximately $3,461,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $0.25 during midday trading on Thursday, hitting $84.08. The company had a trading volume of 178,233 shares, compared to its average volume of 669,111. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The company has a fifty day moving average of $76.75 and a two-hundred day moving average of $79.99.

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 (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.99 earnings per share. Research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the transaction, the chairman now directly owns 7,160,080 shares of the company's stock, valued at $568,868,356. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 170,214 shares of company stock valued at $13,925,963 in the last ninety days. Corporate insiders own 14.60% of the company's stock.

Analyst Ratings Changes

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

SEI Investments Company 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.