SEI Investments (NASDAQ:SEIC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its holdings in SEI Investments (NASDAQ:SEIC) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,880 shares of the asset manager’s stock after selling 5,340 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of SEI Investments worth $5,599,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the period. Point72 DIFC Ltd acquired a new position in SEI Investments in the 3rd quarter valued at about $45,000. First Horizon Advisors Inc. increased its stake in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $77.28 on Wednesday. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock has a market cap of $9.81 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.41 and a beta of 0.94. The stock has a 50-day simple moving average of $80.08 and a 200-day simple moving average of $78.67.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results 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, equities research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has approved a share repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James upgraded 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Morgan Stanley lifted 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. Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.00.

About SEI Investments

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.