SEI Investments (NASDAQ:SEIC) Position Trimmed by Lafayette Investments Inc.

Lafayette Investments Inc. lowered its stake in SEI Investments (NASDAQ:SEIC) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,899 shares of the asset manager’s stock after selling 1,075 shares during the period. Lafayette Investments Inc.’s holdings in SEI Investments were worth $1,311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SEIC. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in SEI Investments in the 4th quarter worth about $23,710,000. CreativeOne Wealth LLC purchased a new stake in shares of SEI Investments during the 4th quarter worth about $242,000. Mariner LLC lifted its stake in SEI Investments by 5.2% in the fourth quarter. Mariner LLC now owns 8,404 shares of the asset manager’s stock valued at $693,000 after acquiring an additional 419 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of SEI Investments by 26.6% in the 4th quarter. Townsquare Capital LLC now owns 33,974 shares of the asset manager’s stock valued at $2,802,000 after purchasing an additional 7,135 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of SEI Investments by 3.6% during the 4th quarter. Sterling Capital Management LLC now owns 23,207 shares of the asset manager’s stock worth $1,914,000 after acquiring an additional 798 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Up 1.5 %

NASDAQ SEIC opened at $73.45 on Tuesday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market cap of $9.32 billion, a P/E ratio of 16.62, a PEG ratio of 1.41 and a beta of 0.90. The company’s 50-day simple moving average is $77.05 and its 200 day simple moving average is $78.82.

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

SEI Investments declared that its board has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Monday, April 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley raised SEI Investments from an “underweight” rating to an “overweight” rating and dropped their price target for the stock from $81.00 to $77.00 in a research report on Monday, April 7th. Oppenheimer increased their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on shares of SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. 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 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.