Vestcor Inc Sells 3,197 Shares of SEI Investments (NASDAQ:SEIC)

Vestcor Inc decreased its holdings in SEI Investments (NASDAQ:SEIC) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 184,952 shares of the asset manager’s stock after selling 3,197 shares during the quarter. Vestcor Inc’s holdings in SEI Investments were worth $15,255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in SEI Investments by 13.5% in 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 buying an additional 300,704 shares during the period. Boston Trust Walden Corp raised its stake in 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 buying an additional 20,020 shares during the period. Bank of New York Mellon Corp raised its stake in SEI Investments by 4.1% in 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 buying an additional 46,425 shares during the period. FMR LLC raised its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $55,124,000 after buying an additional 3,967 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $73.80 on Thursday. The company has a market capitalization of $9.37 billion, a P/E ratio of 16.70, a P/E/G 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 business’s 50 day simple moving average is $81.60 and its 200 day simple moving average is $77.67.

SEI Investments (NASDAQ:SEIC) last issued 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%. On average, sell-side analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the sale, the chairman now owns 7,232,922 shares of the company’s stock, valued at $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,414 shares of company stock valued at $18,801,608 over the last 90 days. 14.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on SEIC shares. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Piper Sandler increased their target price 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.00.

SEI Investments Company 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.