Securian Asset Management Inc. Lowers Stock Holdings in SEI Investments (NASDAQ:SEIC)

Securian Asset Management Inc. lowered its holdings in shares of SEI Investments (NASDAQ:SEIC) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,406 shares of the asset manager’s stock after selling 270 shares during the period. Securian Asset Management Inc.’s holdings in SEI Investments were worth $611,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SEIC. FMR LLC boosted its position in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of SEI Investments during the fourth quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC acquired a new position in shares of SEI Investments during the fourth quarter valued at approximately $26,702,000. Geode Capital Management LLC raised its holdings in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Finally, Portman Square Capital LLP raised its holdings in shares of SEI Investments by 113.1% during the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after acquiring an additional 149,840 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last quarter. 14.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.00.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $73.98 on Monday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a market cap of $9.39 billion, a PE ratio of 16.74, a P/E/G ratio of 1.41 and a beta of 0.94. The stock has a 50 day moving average price of $81.25 and a 200 day moving average price of $77.82.

SEI Investments (NASDAQ:SEIC) last posted 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%. As a group, analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments 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.