SG Americas Securities LLC bought a new position in SEI Investments (NASDAQ:SEIC – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,754 shares of the asset manager’s stock, valued at approximately $1,968,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. increased its stake in SEI Investments by 1.1% in the 3rd quarter. Baird Financial Group Inc. now owns 15,900 shares of the asset manager’s stock valued at $780,000 after buying an additional 172 shares during the period. M&T Bank Corp increased its position in SEI Investments by 1.4% in the third quarter. M&T Bank Corp now owns 16,808 shares of the asset manager’s stock worth $826,000 after buying an additional 227 shares during the period. Captrust Financial Advisors increased its holdings in shares of SEI Investments by 4.2% during the second quarter. Captrust Financial Advisors now owns 5,694 shares of the asset manager’s stock valued at $308,000 after purchasing an additional 230 shares during the period. Atria Investments Inc increased its holdings in shares of SEI Investments by 0.7% during the fourth quarter. Atria Investments Inc now owns 35,316 shares of the asset manager’s stock valued at $2,059,000 after purchasing an additional 247 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in SEI Investments by 0.6% during the third quarter. HBK Sorce Advisory LLC now owns 47,831 shares of the asset manager’s stock worth $2,346,000 after acquiring an additional 284 shares during the period. Institutional investors own 69.45% of the company’s stock.
SEI Investments Stock Up 0.2 %
Shares of NASDAQ SEIC opened at $58.57 on Tuesday. SEI Investments has a twelve month low of $46.30 and a twelve month high of $64.69. The company has a 50 day moving average of $58.08 and a 200 day moving average of $58.34. The firm has a market cap of $7.81 billion, a P/E ratio of 20.34, a PEG ratio of 1.40 and a beta of 1.02.
SEI Investments announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Insider Activity at SEI Investments
In other SEI Investments news, EVP Sanjay Sharma sold 9,000 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $64.14, for a total transaction of $577,260.00. Following the sale, the executive vice president now directly owns 5,165 shares in the company, valued at approximately $331,283.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Sanjay Sharma sold 9,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $64.14, for a total value of $577,260.00. Following the completion of the sale, the executive vice president now owns 5,165 shares in the company, valued at approximately $331,283.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 35,936 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $63.39, for a total transaction of $2,277,983.04. Following the transaction, the chairman now owns 8,905,613 shares of the company’s stock, valued at $564,526,808.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 235,523 shares of company stock valued at $13,928,946. Corporate insiders own 25.40% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on SEIC. Oppenheimer restated an “outperform” rating and set a $68.00 price objective on shares of SEI Investments in a research report on Tuesday, April 4th. Morgan Stanley boosted their price objective on SEI Investments from $54.00 to $58.00 and gave the stock an “underweight” rating in a research note on Monday, April 3rd. Piper Sandler assumed coverage on SEI Investments in a research note on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, StockNews.com started coverage on SEI Investments in a report on Thursday, March 16th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus target price of $60.80.
SEI Investments Company Profile
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
Read More
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