Ontario Teachers Pension Plan Board Sells 2,606 Shares of SEI Investments (NASDAQ:SEIC)

Ontario Teachers Pension Plan Board reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,955 shares of the asset manager’s stock after selling 2,606 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in SEI Investments were worth $739,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in SEI Investments in the 4th quarter valued at about $31,000. Allworth Financial LP grew its stake in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the period. Rialto Wealth Management LLC bought a new stake in SEI Investments during the 4th quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after buying an additional 172 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company’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 transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction on Wednesday, March 5th. The stock was 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 $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 have sold 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Down 2.5 %

NASDAQ SEIC opened at $71.43 on Thursday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a 50 day moving average price of $76.52 and a 200 day moving average price of $78.73. The firm has a market cap of $9.07 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last issued 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%. On average, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share buyback 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 an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

SEIC has been the subject of several recent research reports. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Piper Sandler lowered their price target on shares of SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday. 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 research note on Thursday, January 30th. Finally, Morgan Stanley raised SEI Investments from an “underweight” rating to an “overweight” rating and dropped 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, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $86.80.

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.