Mitsubishi UFJ Trust & Banking Corp Sells 1,616 Shares of SEI Investments (NASDAQ:SEIC)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 128,607 shares of the asset manager’s stock after selling 1,616 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SEI Investments were worth $10,608,000 at the end of the most recent quarter.

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

SEI Investments Price Performance

Shares of SEIC opened at $77.11 on Friday. The company’s fifty day moving average price is $80.33 and its 200-day moving average price is $78.44. The firm has a market capitalization of $9.79 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted 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, research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

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.