Mitsubishi UFJ Asset Management Co. Ltd. Sells 314 Shares of SEI Investments (NASDAQ:SEIC)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its holdings in SEI Investments (NASDAQ:SEIC) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,204 shares of the asset manager’s stock after selling 314 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in SEI Investments were worth $6,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new position in SEI Investments during the 4th quarter valued at $31,000. Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the period. Point72 DIFC Ltd acquired a new position in shares of SEI Investments during the third quarter valued at about $45,000. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after buying an additional 117 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. 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 three months. 14.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Oppenheimer upped their price target 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 upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of “Hold” and an average price target of $90.00.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $77.63 on Tuesday. The company has a market capitalization of $9.86 billion, a PE ratio of 17.56, a P/E/G ratio of 1.41 and a beta of 0.94. The company’s fifty day moving average is $80.21 and its 200-day moving average is $78.60. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

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 the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, analysts forecast that SEI Investments will post 4.86 EPS for the current year.

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

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.