United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $709,000 in SEI Investments (NASDAQ:SEIC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,600 shares of the asset manager’s stock, valued at approximately $709,000.

A number of other large investors also recently bought and sold shares of SEIC. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments in the 4th quarter valued at $31,000. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the period. Allworth Financial LP grew its position in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the period. Point72 DIFC Ltd purchased a new position in shares of SEI Investments in the 3rd quarter valued at about $45,000. Finally, Rialto Wealth Management LLC acquired a new position in SEI Investments in the 4th quarter worth about $55,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Up 1.1 %

Shares of SEIC stock opened at $78.27 on Wednesday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.41 and a beta of 0.94. The company’s 50-day moving average price is $80.62 and its 200-day moving average price is $78.28.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results 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 return on equity of 25.51% and a net margin of 27.35%. As a group, equities research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated 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 transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % 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 quarter. 14.30% of the stock is owned by insiders.

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.