SEI Investments (NASDAQ:SEIC) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in SEI Investments (NASDAQ:SEIC) by 318.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,183 shares of the asset manager’s stock after purchasing an additional 104,367 shares during the period. Prudential Financial Inc.’s holdings in SEI Investments were worth $11,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SEIC. Paces Ferry Wealth Advisors LLC purchased a new position in SEI Investments in the fourth quarter worth approximately $207,000. LPL Financial LLC grew its stake in shares of SEI Investments by 12.2% during the fourth quarter. LPL Financial LLC now owns 88,164 shares of the asset manager’s stock worth $7,272,000 after purchasing an additional 9,607 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of SEI Investments during the fourth quarter worth $13,454,000. AXQ Capital LP acquired a new stake in SEI Investments in the fourth quarter valued at $257,000. Finally, Hillsdale Investment Management Inc. raised its stake in SEI Investments by 3.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 10,800 shares of the asset manager’s stock valued at $891,000 after buying an additional 400 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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 in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $77.11 on Friday. The company has a market capitalization of $9.79 billion, a P/E ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company’s fifty day moving average is $80.33 and its two-hundred day moving average is $78.36.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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%. As a group, 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 allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

SEIC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Raymond James raised 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 report on Thursday, January 30th. Oppenheimer boosted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.00.

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.