Huntington National Bank Acquires 2,815 Shares of SEI Investments (NASDAQ:SEIC)

Huntington National Bank lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 835.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,152 shares of the asset manager’s stock after purchasing an additional 2,815 shares during the period. Huntington National Bank’s holdings in SEI Investments were worth $260,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Trexquant Investment LP raised its position in SEI Investments by 388.1% in the 4th quarter. Trexquant Investment LP now owns 109,804 shares of the asset manager’s stock worth $9,057,000 after purchasing an additional 87,307 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock worth $212,589,000 after acquiring an additional 60,307 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of SEI Investments by 242.3% during the fourth quarter. National Bank of Canada FI now owns 10,162 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 7,193 shares during the period. Franklin Resources Inc. lifted its stake in shares of SEI Investments by 39.3% during the fourth quarter. Franklin Resources Inc. now owns 446,408 shares of the asset manager’s stock valued at $36,820,000 after acquiring an additional 125,926 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in SEI Investments in the fourth quarter worth about $238,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Down 6.1 %

Shares of NASDAQ SEIC opened at $69.02 on Friday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company’s fifty day moving average is $79.41 and its 200-day moving average is $78.72. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last posted its 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%. On average, research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a stock repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in 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 a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Raymond James upgraded 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer upped their target price 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. Morgan Stanley reduced their price target on SEI Investments from $84.00 to $81.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average price target of $90.20.

Insider Activity at SEI Investments

In related news, 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 transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by company insiders.

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.