American Century Companies Inc. Cuts Position in SEI Investments (NASDAQ:SEIC)

American Century Companies Inc. trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 203,752 shares of the asset manager’s stock after selling 12,958 shares during the period. American Century Companies Inc. owned approximately 0.16% of SEI Investments worth $16,805,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SEIC. Bank of Montreal Can raised its stake in shares of SEI Investments by 19.7% in the third quarter. Bank of Montreal Can now owns 149,659 shares of the asset manager’s stock worth $10,368,000 after purchasing an additional 24,624 shares during the last quarter. FMR LLC increased its holdings in 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 buying an additional 632,024 shares in the last quarter. BNP Paribas Financial Markets raised its position in SEI Investments by 99.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 90,902 shares of the asset manager’s stock worth $6,290,000 after buying an additional 45,241 shares during the last quarter. Townsquare Capital LLC lifted its stake in SEI Investments by 30.6% during the 3rd quarter. Townsquare Capital LLC now owns 26,839 shares of the asset manager’s stock valued at $1,857,000 after acquiring an additional 6,286 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of SEI Investments during the 3rd quarter valued at about $254,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

NASDAQ SEIC opened at $77.63 on Tuesday. The business’s fifty day moving average is $80.21 and its 200 day moving average is $78.60. The company has a market capitalization of $9.86 billion, a PE ratio of 17.56, a price-to-earnings-growth 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 (EPS) 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%. On average, sell-side analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last three months. Corporate insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the subject of several research reports. Raymond James raised 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. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley lifted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Oppenheimer increased 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, Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.