First Trust Advisors LP Reduces Position in SEI Investments (NASDAQ:SEIC)

First Trust Advisors LP decreased its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 49.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 482,575 shares of the asset manager's stock after selling 468,603 shares during the period. First Trust Advisors LP owned about 0.37% of SEI Investments worth $39,803,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp bought a new stake in shares of SEI Investments in the 4th quarter worth approximately $2,645,000. Boston Trust Walden Corp raised its holdings in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock worth $107,746,000 after buying an additional 20,020 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of SEI Investments in the fourth quarter worth approximately $267,000. New York Life Investment Management LLC bought a new position in shares of SEI Investments in the fourth quarter worth approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of SEI Investments during the fourth quarter valued at approximately $1,818,000. Institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.25 during midday trading on Wednesday, reaching $78.29. 909,972 shares of the stock traded hands, compared to its average volume of 653,959. The stock has a market capitalization of $9.84 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business has a 50-day moving average of $75.01 and a two-hundred day moving average of $79.08. SEI Investments has a 12-month low of $62.38 and a 12-month 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 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 for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. Research analysts anticipate 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 stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at SEI Investments

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 value of $104,656.16. Following the completion of the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock worth $6,293,903 in the last ninety days. 14.30% of the stock is owned by insiders.

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.