SEI Investments (NASDAQ:SEIC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of SEI Investments (NASDAQ:SEIC) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 451,354 shares of the asset manager’s stock after selling 32,755 shares during the quarter. ProShare Advisors LLC’s holdings in SEI Investments were worth $37,228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after acquiring an additional 144 shares during the period. Ashton Thomas Securities LLC boosted its holdings in shares of SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 145 shares during the period. Principal Securities Inc. boosted its holdings in shares of SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of SEI Investments by 53.7% during 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 during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Trading Up 1.7%

Shares of NASDAQ SEIC opened at $84.77 on Friday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.41 and a beta of 0.90. The firm has a 50-day moving average of $75.82 and a two-hundred day moving average of $79.74.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the prior year, the company earned $0.99 EPS. SEI Investments’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

SEIC has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Oppenheimer reaffirmed an “outperform” rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Finally, William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction 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 $104,507. The trade was a 79.37% 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 valued at $6,293,903. 14.60% of the stock is owned by insiders.

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.