Aviva PLC trimmed its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,313 shares of the asset manager’s stock after selling 8,243 shares during the quarter. Aviva PLC’s holdings in SEI Investments were worth $17,458,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SEIC. BlackRock Inc. grew its stake in shares of SEI Investments by 2.3% during the 1st quarter. BlackRock Inc. now owns 11,645,954 shares of the asset manager’s stock worth $701,203,000 after purchasing an additional 260,417 shares during the period. State Street Corp boosted its stake in shares of SEI Investments by 0.8% during the 3rd quarter. State Street Corp now owns 6,293,623 shares of the asset manager’s stock worth $308,702,000 after acquiring an additional 52,265 shares in the last quarter. First Trust Advisors LP raised its holdings in SEI Investments by 3.0% during the first quarter. First Trust Advisors LP now owns 1,418,169 shares of the asset manager’s stock worth $85,388,000 after purchasing an additional 41,915 shares during the last quarter. Bank of New York Mellon Corp boosted its position in SEI Investments by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 1,348,443 shares of the asset manager’s stock worth $66,141,000 after purchasing an additional 89,432 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in SEI Investments by 6.8% in the fourth quarter. Boston Trust Walden Corp now owns 1,265,913 shares of the asset manager’s stock valued at $73,803,000 after purchasing an additional 80,817 shares during the last quarter. 69.45% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other SEI Investments news, Chairman Alfred P. West, Jr. sold 15,659 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $56.06, for a total transaction of $877,843.54. Following the transaction, the chairman now owns 8,568,128 shares of the company’s stock, valued at $480,329,255.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 65,900 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $55.45, for a total transaction of $3,654,155.00. Following the completion of the sale, the chairman now owns 8,583,787 shares in the company, valued at approximately $475,970,989.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 15,659 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $56.06, for a total transaction of $877,843.54. Following the sale, the chairman now directly owns 8,568,128 shares of the company’s stock, valued at approximately $480,329,255.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,021 shares of company stock valued at $6,551,993. Insiders own 25.40% of the company’s stock.
SEI Investments Stock Performance
SEI Investments (NASDAQ:SEIC – Get Rating) last released its earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The business had revenue of $469.12 million for the quarter, compared to analysts’ expectations of $468.79 million. SEI Investments had a return on equity of 22.29% and a net margin of 20.88%. The business’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. As a group, equities research analysts forecast that SEI Investments will post 3.38 earnings per share for the current fiscal year.
SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, April 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
SEIC has been the subject of several recent research reports. StockNews.com initiated coverage on shares of SEI Investments in a report on Thursday, May 18th. They set a “hold” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 target price on shares of SEI Investments in a research note on Tuesday, April 4th. Piper Sandler began coverage on SEI Investments in a report on Wednesday, March 29th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Morgan Stanley upped their price objective on SEI Investments from $54.00 to $58.00 and gave the company an “underweight” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average target price of $60.80.
SEI Investments Company Profile
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
- Get a free copy of the StockNews.com research report on SEI Investments (SEIC)
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