SEI Investments (NASDAQ:SEIC) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its position in SEI Investments (NASDAQ:SEIC) by 318.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 137,183 shares of the asset manager’s stock after buying an additional 104,367 shares during the period. Prudential Financial Inc. owned about 0.11% of SEI Investments worth $11,315,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in SEI Investments during the 3rd quarter worth $45,000. First Horizon Advisors Inc. boosted its stake in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after buying an additional 172 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of recent research reports. Raymond James upgraded shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler upped their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer raised their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, 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 research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s 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 transaction, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 over the last quarter. 14.30% of the stock is owned by company insiders.

SEI Investments Trading Down 1.3 %

Shares of NASDAQ:SEIC opened at $77.11 on Friday. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The business has a 50-day moving average price of $80.33 and a 200 day moving average price of $78.36.

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 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%. As a group, equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated 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 purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.