Voloridge Investment Management LLC Sells 50,828 Shares of SEI Investments (NASDAQ:SEIC)

Voloridge Investment Management LLC cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 458,208 shares of the asset manager’s stock after selling 50,828 shares during the quarter. Voloridge Investment Management LLC owned 0.36% of SEI Investments worth $37,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of SEI Investments during the 4th quarter worth $48,009,000. Raymond James Financial Inc. purchased a new stake in SEI Investments during the fourth quarter valued at about $42,548,000. FMR LLC lifted its stake in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in SEI Investments during the fourth quarter worth about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of SEI Investments in the 4th quarter worth about $23,710,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 2.1%

NASDAQ:SEIC opened at $83.83 on Thursday. The firm has a market capitalization of $10.44 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a fifty day moving average of $76.75 and a 200 day moving average of $79.99.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million during 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a share repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley restated an “overweight” rating and issued a $82.00 price objective (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Insider Buying and Selling at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the transaction, the insider now directly owns 23,895 shares of the company’s stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Peterson sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the sale, the executive vice president now owns 13,500 shares of the company’s stock, valued at $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,214 shares of company stock valued at $13,925,963 in the last 90 days. Insiders own 14.60% of the company’s stock.

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.