JPMorgan Chase & Co. Decreases Stock Position in SEI Investments (NASDAQ:SEIC)

JPMorgan Chase & Co. decreased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 9.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 458,881 shares of the asset manager’s stock after selling 49,035 shares during the period. JPMorgan Chase & Co.’s holdings in SEI Investments were worth $37,849,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SEIC. Raymond James Financial Inc. purchased a new stake in SEI Investments during the 4th quarter worth approximately $42,548,000. Los Angeles Capital Management LLC acquired a new position in shares of SEI Investments in the 4th quarter valued at $26,702,000. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the period. KLP Kapitalforvaltning AS purchased a new position in SEI Investments in the 4th quarter worth $13,454,000. Finally, Portman Square Capital LLP grew its stake in SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after purchasing an additional 149,840 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $69.02 on Monday. The firm’s fifty day moving average is $79.41 and its 200 day moving average is $78.79. The firm has a market cap of $8.76 billion, a PE ratio of 15.62, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

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

SEI Investments announced 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 purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s 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 directly owns 7,078,708 shares in the company, valued at $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. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 in the last three months. 14.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SEIC shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley cut their price objective on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 2nd. 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 research report on Thursday, January 30th. Finally, Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.20.

SEI Investments 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.