ExodusPoint Capital Management LP Boosts Position in SEI Investments (NASDAQ:SEIC)

ExodusPoint Capital Management LP increased its position in SEI Investments (NASDAQ:SEIC) by 1,345.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,548 shares of the asset manager’s stock after acquiring an additional 56,358 shares during the quarter. ExodusPoint Capital Management LP’s holdings in SEI Investments were worth $4,994,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new stake in SEI Investments in the 4th quarter worth approximately $31,000. Allworth Financial LP raised its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after buying an additional 158 shares in the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments during the third quarter valued at $45,000. First Horizon Advisors Inc. grew its position in 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. Finally, Rialto Wealth Management LLC bought a new position in SEI Investments in the 4th quarter worth about $55,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

SEIC stock opened at $69.02 on Friday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a market capitalization of $8.76 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company’s 50 day moving average price is $79.41 and its two-hundred day moving average price is $78.72.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SEIC shares. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley cut their price target on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a research note on Wednesday. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Hold” and an average target price of $90.20.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.30% of the company’s stock.

About SEI Investments

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.