Mitsubishi UFJ Trust & Banking Corp Sells 1,616 Shares of SEI Investments (NASDAQ:SEIC)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in SEI Investments (NASDAQ:SEIC) by 1.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,607 shares of the asset manager’s stock after selling 1,616 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of SEI Investments worth $10,608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEIC. King Luther Capital Management Corp purchased a new position in shares of SEI Investments during the 4th quarter worth $2,645,000. Boston Trust Walden Corp lifted its position in shares of 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 buying an additional 20,020 shares in the last quarter. Longboard Asset Management LP bought a new position in shares of SEI Investments during the 4th quarter valued at approximately $267,000. New York Life Investment Management LLC purchased a new stake in SEI Investments in the 4th quarter worth approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in SEI Investments during the 4th quarter worth approximately $1,818,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 1.3 %

SEIC opened at $77.11 on Friday. The company has a market capitalization of $9.79 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The firm has a 50-day simple moving average of $80.33 and a two-hundred day simple moving average of $78.44. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 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%. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SEIC shares. 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 report on Thursday, January 30th. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. 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 report on Thursday, January 30th. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.00.

Insider Activity 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 that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’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 value 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. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by corporate 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.