Southernsun Asset Management LLC Has $5.50 Million Holdings in SEI Investments (NASDAQ:SEIC)

Southernsun Asset Management LLC lifted its stake in SEI Investments (NASDAQ:SEIC) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,649 shares of the asset manager’s stock after acquiring an additional 1,068 shares during the period. SEI Investments makes up 0.7% of Southernsun Asset Management LLC’s portfolio, making the stock its 27th largest holding. Southernsun Asset Management LLC owned approximately 0.05% of SEI Investments worth $5,497,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. MML Investors Services LLC raised its position in shares of SEI Investments by 12.2% during the third quarter. MML Investors Services LLC now owns 3,472 shares of the asset manager’s stock valued at $240,000 after buying an additional 377 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of SEI Investments in the 3rd quarter worth approximately $374,000. Franklin Resources Inc. grew its holdings in shares of SEI Investments by 17.8% during the 3rd quarter. Franklin Resources Inc. now owns 320,482 shares of the asset manager’s stock worth $22,799,000 after purchasing an additional 48,429 shares in the last quarter. DGS Capital Management LLC raised its stake in shares of SEI Investments by 14.4% in the third quarter. DGS Capital Management LLC now owns 11,518 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 1,448 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in SEI Investments by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock worth $35,143,000 after purchasing an additional 60,824 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Down 2.8 %

Shares of NASDAQ SEIC opened at $69.67 on Tuesday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm’s 50-day simple moving average is $75.80 and its 200 day simple moving average is $78.89. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last announced its earnings results 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 return on equity of 25.51% and a net margin of 27.35%. On average, equities analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction that occurred 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 in the company, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Piper Sandler dropped their target price on SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Oppenheimer upped 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. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.

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.