SEI Investments (NASDAQ:SEIC) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its holdings in SEI Investments (NASDAQ:SEIC) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,837,307 shares of the asset manager’s stock after selling 310,622 shares during the quarter. SEI Investments accounts for approximately 78.7% of Loomis Sayles & Co. L P’s holdings, making the stock its 23rd largest position. Loomis Sayles & Co. L P owned approximately 6.86% of SEI Investments worth $728,902,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SEIC. Geode Capital Management LLC increased its stake in SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after acquiring an additional 20,020 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after acquiring an additional 46,425 shares during the period. FMR LLC raised its holdings 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. Finally, Charles Schwab Investment Management Inc. lifted its position in SEI Investments by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock worth $55,124,000 after purchasing an additional 3,967 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SEI Investments Trading Up 0.1 %

NASDAQ SEIC opened at $78.32 on Thursday. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock’s 50-day moving average price is $80.55 and its two-hundred day moving average price is $78.28. The company has a market cap of $9.94 billion, a PE ratio of 17.72, a PEG ratio of 1.41 and a beta of 0.94.

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 net margin of 27.35% and a return on equity of 25.51%. Research analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has approved 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 purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction 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. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the 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 sale, the insider now 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. Over the last quarter, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by corporate insiders.

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.