SEI Investments (NASDAQ:SEIC) Stock Holdings Cut by Cibc World Markets Corp

Cibc World Markets Corp reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,996 shares of the asset manager’s stock after selling 1,512 shares during the quarter. Cibc World Markets Corp’s holdings in SEI Investments were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after acquiring an additional 300,704 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after acquiring an additional 20,020 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after buying an additional 46,425 shares in the last quarter. FMR LLC raised its holdings in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in SEI Investments by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after buying an additional 3,967 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Down 0.2 %

SEIC stock opened at $75.84 on Monday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a market cap of $9.63 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The business’s 50-day simple moving average is $80.71 and its 200 day simple moving average is $78.11.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on SEIC. Piper Sandler raised 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley raised their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer raised their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.00.

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This represents a 0.02 % 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 in the last 90 days. 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.