SEI Investments (NASDAQ:SEIC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 419,680 shares of the asset manager’s stock after selling 5,562 shares during the quarter. AQR Capital Management LLC’s holdings in SEI Investments were worth $34,615,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the 4th quarter valued at approximately $31,000. Allworth Financial LP raised its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 158 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of SEI Investments during the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after purchasing an additional 172 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the 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 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 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $79.99 on Friday. The business has a 50-day simple moving average of $74.99 and a 200-day simple moving average of $79.18. The company has a market cap of $9.96 billion, a PE ratio of 18.10, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. On average, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a share buyback program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits 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 board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SEIC shares. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Oppenheimer restated an “outperform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $82.00 target price (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.