SEI Investments (NASDAQ:SEIC) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 49.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC increased its position in shares of SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after purchasing an additional 145 shares during the last quarter. Principal Securities Inc. raised its stake in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 155 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing 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 that occurred 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 sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 in the last quarter. Corporate insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SEIC shares. Piper Sandler upped their price objective on SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and set a $82.00 price target (up from $77.00) on shares of SEI Investments in a research report on Thursday. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday. Oppenheimer reissued an “outperform” rating on shares of SEI Investments in a report on Thursday. Finally, Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.80.

SEI Investments Stock Performance

SEI Investments stock opened at $78.70 on Friday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a 50-day simple moving average of $75.32 and a 200-day simple moving average of $78.86. The firm has a market capitalization of $9.90 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The company 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%. As a group, sell-side analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board 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.