Wells Fargo & Company MN Reduces Position in SEI Investments (NASDAQ:SEIC)

Wells Fargo & Company MN lowered its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 48.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,503 shares of the asset manager's stock after selling 41,506 shares during the quarter. Wells Fargo & Company MN's holdings in SEI Investments were worth $3,588,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp increased its position 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 purchasing an additional 20,020 shares during the last quarter. Bank of New York Mellon Corp increased its position in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in SEI Investments by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock valued at $55,124,000 after acquiring an additional 3,967 shares during the last quarter. Finally, Norges Bank bought a new position in SEI Investments during the fourth quarter valued at $48,009,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Thursday. Morgan Stanley reiterated an "overweight" rating and set a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research note on Thursday. William Blair reissued a "market perform" rating on shares of SEI Investments in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

SEI Investments Stock Down 1.0 %

NASDAQ:SEIC traded down $0.81 during mid-day trading on Monday, reaching $77.78. The company's stock had a trading volume of 687,717 shares, compared to its average volume of 652,273. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock has a fifty day moving average of $75.14 and a 200-day moving average of $79.09. The firm has a market capitalization of $9.78 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same period in the prior year, the firm earned $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, 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 repurchase plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments 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 of the company's stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last three months. 14.30% of the stock is owned by company insiders.

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.