Meiji Yasuda Asset Management Co Ltd. Sells 2,305 Shares of SEI Investments (NASDAQ:SEIC)

Meiji Yasuda Asset Management Co Ltd. lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,121 shares of the asset manager’s stock after selling 2,305 shares during the period. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.06% of SEI Investments worth $6,114,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC lifted its holdings in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after buying an additional 145 shares during the period. CoreFirst Bank & Trust bought a new position in SEI Investments in the fourth quarter valued at about $31,000. Prudential Financial Inc. grew its stake in shares of SEI Investments by 318.0% during the 4th quarter. Prudential Financial Inc. now owns 137,183 shares of the asset manager’s stock valued at $11,315,000 after purchasing an additional 104,367 shares during the period. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the 4th quarter valued at about $207,000. Finally, LPL Financial LLC lifted its stake in shares of SEI Investments by 12.2% in the 4th quarter. LPL Financial LLC now owns 88,164 shares of the asset manager’s stock worth $7,272,000 after purchasing an additional 9,607 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 1.1 %

NASDAQ:SEIC opened at $78.27 on Wednesday. The stock has a 50-day moving average price of $80.62 and a 200 day moving average price of $78.28. The stock has a market capitalization of $9.94 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data 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, research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.00.

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.