SEI Investments (NASDAQ:SEIC) Shares Sold by Franklin Resources Inc.

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. reduced its stake in SEI Investments (NASDAQ:SEIC – Get Rating) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,193 shares of the asset manager’s stock after selling 1,832 shares during the period. Franklin Resources Inc. owned approximately 0.09% of SEI Investments worth $7,240,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. CoreCap Advisors LLC acquired a new stake in shares of SEI Investments during the fourth quarter valued at about $26,000. AM Squared Ltd acquired a new stake in shares of SEI Investments during the fourth quarter valued at about $117,000. EagleClaw Capital Managment LLC acquired a new stake in shares of SEI Investments during the fourth quarter valued at about $638,000. abrdn plc lifted its position in shares of SEI Investments by 17.6% during the fourth quarter. abrdn plc now owns 11,987 shares of the asset manager’s stock worth $699,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of SEI Investments during the fourth quarter worth about $203,000. 69.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SEIC shares. Oppenheimer reaffirmed an “outperform” rating and set a $68.00 price target on shares of SEI Investments in a research report on Tuesday, April 4th. Morgan Stanley raised their target price on shares of SEI Investments from $54.00 to $58.00 and gave the stock an “underweight” rating in a report on Monday, April 3rd. Piper Sandler began coverage on shares of SEI Investments in a report on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, StockNews.com began coverage on shares of SEI Investments in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.80.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 65,900 shares of SEI Investments stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $55.45, for a total value of $3,654,155.00. Following the transaction, the chairman now owns 8,583,787 shares in the company, valued at $475,970,989.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman Alfred P. West, Jr. sold 15,659 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $56.06, for a total value of $877,843.54. Following the completion of the transaction, the chairman now owns 8,568,128 shares of the company’s stock, valued at approximately $480,329,255.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 65,900 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $55.45, for a total transaction of $3,654,155.00. Following the completion of the transaction, the chairman now directly owns 8,583,787 shares of the company’s stock, valued at approximately $475,970,989.15. The disclosure for this sale can be found here. Insiders have sold 118,021 shares of company stock worth $6,551,993 over the last quarter. 25.40% of the stock is currently owned by company insiders.

SEI Investments Trading Up 1.6 %

Shares of NASDAQ:SEIC opened at $57.46 on Friday. The firm’s 50 day moving average is $57.71 and its two-hundred day moving average is $59.46. SEI Investments has a 52 week low of $46.30 and a 52 week high of $64.69. The firm has a market capitalization of $7.66 billion, a P/E ratio of 19.95, a PEG ratio of 1.39 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). SEI Investments had a net margin of 20.88% and a return on equity of 22.29%. The company had revenue of $469.12 million for the quarter, compared to analyst estimates of $468.79 million. During the same quarter in the prior year, the business earned $1.36 EPS. SEI Investments’s revenue was down 19.3% compared to the same quarter last year. Analysts predict that SEI Investments will post 3.38 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

SEI Investments Company Profile

(Get Rating)

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.