8,600 Shares in SEI Investments (NASDAQ:SEIC) Acquired by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in SEI Investments (NASDAQ:SEIC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 8,600 shares of the asset manager’s stock, valued at approximately $709,000.

Several other institutional investors have also modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments during the 4th quarter worth about $31,000. First Horizon Advisors Inc. lifted its stake in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Allworth Financial LP boosted its holdings 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 in the last quarter. Point72 DIFC Ltd purchased a new position in SEI Investments in the third quarter valued at approximately $45,000. Finally, Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth approximately $55,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % 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 over the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 1.1 %

Shares of SEI Investments stock opened at $78.27 on Wednesday. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company’s 50-day simple moving average is $80.62 and its 200-day simple moving average is $78.28.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) 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%. Equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SEIC has been the subject of several research analyst reports. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.00.

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.