Legal & General Group Plc Has $33 Million Stake in SEI Investments (NASDAQ:SEIC)

Legal & General Group Plc decreased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,070 shares of the asset manager’s stock after selling 117,509 shares during the quarter. Legal & General Group Plc’s holdings in SEI Investments were worth $32,998,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SEIC. Norges Bank acquired a new stake in shares of SEI Investments in the fourth quarter worth $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments during the 4th quarter worth about $42,548,000. FMR LLC raised its position in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of SEI Investments in the fourth quarter valued at about $26,702,000. Finally, Geode Capital Management LLC grew its position in SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after buying an additional 300,704 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company’s 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 the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,214 shares of company stock worth $6,293,903. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several recent research reports. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a report on Monday, April 7th. Piper Sandler reduced their target price on SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley upgraded shares of 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 report on Monday, April 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.80.

SEI Investments Price Performance

SEI Investments stock opened at $72.38 on Friday. 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 $9.19 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.41 and a beta of 0.90. The stock has a fifty day moving average price of $77.31 and a two-hundred day moving average price of $78.72.

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%. On average, equities research analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

SEI Investments Company 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.