Pictet Asset Management Holding SA Decreases Stake in SEI Investments (NASDAQ:SEIC)

Pictet Asset Management Holding SA cut its position in SEI Investments (NASDAQ:SEIC) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,980 shares of the asset manager’s stock after selling 1,148 shares during the period. Pictet Asset Management Holding SA’s holdings in SEI Investments were worth $4,865,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

SEIC has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Morgan Stanley decreased their price objective 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. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, SEI Investments presently has an average rating of “Hold” and an average price target of $90.20.

Insider Buying and Selling at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments 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 sale, the chairman now owns 7,078,708 shares of the company’s stock, 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. In the last 90 days, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by corporate insiders.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $73.49 on Friday. The stock has a fifty day moving average price of $79.73 and a 200 day moving average price of $78.63. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The company has a market cap of $9.33 billion, a PE ratio of 16.63, a P/E/G ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its 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 return on equity of 25.51% and a net margin of 27.35%. Analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a stock repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in 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 often a sign that the company’s leadership believes its stock is 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.