Prudential PLC Takes Position in SEI Investments (NASDAQ:SEIC)

Prudential PLC bought a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,429 shares of the asset manager’s stock, valued at approximately $200,000.

Other hedge funds have also recently made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the 4th quarter valued at about $31,000. Allworth Financial LP raised its holdings in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the period. Point72 DIFC Ltd bought a new stake in SEI Investments during the third quarter valued at about $45,000. First Horizon Advisors Inc. increased its position in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $55,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SEIC shares. Oppenheimer boosted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler dropped their price objective on SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley raised SEI Investments from an “underweight” rating to an “overweight” rating and decreased their target price for the company from $81.00 to $77.00 in a research note on Monday. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Finally, StockNews.com cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.80.

SEI Investments Stock Down 2.1 %

SEIC stock opened at $66.45 on Wednesday. The company has a fifty day simple moving average of $78.41 and a two-hundred day simple moving average of $78.68. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm has a market capitalization of $8.44 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. 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 buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last 90 days. Insiders own 14.30% of the company’s stock.

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.