Korea Investment CORP Reduces Stock Holdings in SEI Investments (NASDAQ:SEIC)

Korea Investment CORP reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,484 shares of the asset manager’s stock after selling 7,800 shares during the quarter. Korea Investment CORP owned approximately 0.15% of SEI Investments worth $15,629,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Boston Trust Walden Corp boosted its position in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after acquiring an additional 20,020 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of SEI Investments by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after acquiring an additional 46,425 shares during the period. FMR LLC raised its position in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SEI Investments by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after purchasing an additional 3,967 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $77.11 on Monday. The firm has a 50-day simple moving average of $80.33 and a two-hundred day simple moving average of $78.52. The firm has a market cap of $9.79 billion, a P/E ratio of 17.45, 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 quarterly earnings data 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 return on equity of 25.51% and a net margin of 27.35%. On average, equities research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, 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 transaction of $401,950.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock worth $6,293,903 over the last quarter. 14.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer boosted their price objective 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. Morgan Stanley raised their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Finally, Piper Sandler lifted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.00.

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.