Trexquant Investment LP Raises Stake in SEI Investments (NASDAQ:SEIC)

Trexquant Investment LP grew its stake in SEI Investments (NASDAQ:SEIC) by 388.1% in the fourth quarter, Holdings Channel reports. The fund owned 109,804 shares of the asset manager’s stock after purchasing an additional 87,307 shares during the period. Trexquant Investment LP’s holdings in SEI Investments were worth $9,057,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SEIC. FMR LLC raised its stake in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Norges Bank acquired a new stake in shares of SEI Investments during the 4th quarter worth approximately $48,009,000. Raymond James Financial Inc. purchased a new stake in shares of SEI Investments during the 4th quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC acquired a new position in SEI Investments in the fourth quarter valued at approximately $26,702,000. Finally, Geode Capital Management LLC grew its position in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after acquiring an additional 300,704 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James raised 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 report on Thursday, January 30th. Morgan Stanley lowered their target price on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a research note on Wednesday. Piper Sandler boosted their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments has an average rating of “Hold” and an average target price of $90.20.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 in the last three months. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Performance

NASDAQ SEIC opened at $77.59 on Thursday. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.41 and a beta of 0.94. The firm has a 50 day simple moving average of $79.95 and a 200-day simple moving average of $78.67. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Equities analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.