13,240 Shares in SEI Investments (NASDAQ:SEIC) Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co bought a new position in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,240 shares of the asset manager’s stock, valued at approximately $1,092,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. FMR LLC grew its stake in shares of SEI Investments by 249.7% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of SEI Investments in the 4th quarter valued at about $42,548,000. Los Angeles Capital Management LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $26,702,000. Geode Capital Management LLC raised its position 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 worth $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of SEI Investments in the fourth quarter worth approximately $13,454,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Down 1.3 %

SEI Investments stock opened at $77.11 on Monday. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The firm’s fifty day moving average price is $80.33 and its two-hundred day moving average price is $78.52. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

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

SEI Investments announced that its Board of Directors has approved a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01 % 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 worth $6,293,903 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. 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 research note on Thursday, January 30th. Oppenheimer upped their price objective on shares of 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 target price for the company in a research note on Thursday, January 30th. Finally, Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the stock 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.