Mitsubishi UFJ Asset Management Co. Ltd. Decreases Position in SEI Investments (NASDAQ:SEIC)

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in SEI Investments (NASDAQ:SEIC) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,204 shares of the asset manager’s stock after selling 314 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of SEI Investments worth $6,405,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in SEI Investments during the fourth quarter worth approximately $31,000. Allworth Financial LP increased its position in 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 in the last quarter. First Horizon Advisors Inc. increased its position 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 worth $48,000 after acquiring an additional 117 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in SEI Investments in the 3rd quarter valued at $45,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SEIC. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. 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, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments 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 sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 0.7 %

Shares of SEIC stock opened at $77.63 on Tuesday. The stock has a 50-day simple moving average of $80.21 and a 200 day simple moving average of $78.60. The stock has a market capitalization of $9.86 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced 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 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 earnings per share for the current year.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.