AQR Capital Management LLC Reduces Position in SEI Investments (NASDAQ:SEIC)

AQR Capital Management LLC decreased its position in SEI Investments (NASDAQ:SEIC) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,680 shares of the asset manager’s stock after selling 5,562 shares during the period. AQR Capital Management LLC owned approximately 0.33% of SEI Investments worth $34,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of SEI Investments by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock worth $212,589,000 after purchasing an additional 60,307 shares during the last quarter. Boston Trust Walden Corp raised 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 worth $107,746,000 after buying an additional 20,020 shares during the last quarter. FMR LLC lifted its stake in SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after acquiring an additional 348,112 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of SEI Investments by 4.1% in the 4th 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 acquiring an additional 46,425 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock worth $88,104,000 after acquiring an additional 184,339 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

SEI Investments stock opened at $79.99 on Friday. The stock has a market capitalization of $9.96 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business has a 50 day simple moving average of $74.99 and a 200-day simple moving average of $79.18. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction 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 sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock worth $6,293,903. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SEIC. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler upped their target price on SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.60.

SEI Investments 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.