Treasurer of the State of North Carolina Has $3.62 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

Treasurer of the State of North Carolina lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,937 shares of the asset manager’s stock after purchasing an additional 280 shares during the period. Treasurer of the State of North Carolina’s holdings in SEI Investments were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. Raymond James Financial Inc. acquired a new position in shares of SEI Investments in the fourth quarter worth approximately $42,548,000. Martingale Asset Management L P increased its stake in SEI Investments by 124.7% during the 4th quarter. Martingale Asset Management L P now owns 230,671 shares of the asset manager’s stock valued at $19,026,000 after purchasing an additional 128,006 shares in the last quarter. APG Asset Management N.V. acquired a new stake in shares of SEI Investments in the 4th quarter worth about $4,962,000. Abacus FCF Advisors LLC lifted its holdings in shares of SEI Investments by 46.4% in the fourth quarter. Abacus FCF Advisors LLC now owns 30,499 shares of the asset manager’s stock valued at $2,516,000 after purchasing an additional 9,672 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in SEI Investments by 55.3% during the 4th quarter. Cerity Partners LLC now owns 22,294 shares of the asset manager’s stock worth $1,798,000 after acquiring an additional 7,938 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SEIC. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday, January 30th. Piper Sandler reduced their price objective on shares of SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Oppenheimer upped their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley raised shares of SEI Investments from an “underweight” rating to an “overweight” rating and decreased their price target for the stock from $81.00 to $77.00 in a report on Monday, April 7th. Finally, StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

SEI Investments Stock Down 0.3 %

NASDAQ SEIC opened at $73.26 on Wednesday. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.41 and a beta of 0.90. The company has a 50-day simple moving average of $76.79 and a two-hundred day simple moving average of $78.78. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Equities analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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.