Mariner LLC Buys 419 Shares of SEI Investments (NASDAQ:SEIC)

Mariner LLC lifted its stake in shares of SEI Investments (NASDAQ:SEIC) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,404 shares of the asset manager’s stock after purchasing an additional 419 shares during the quarter. Mariner LLC’s holdings in SEI Investments were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock worth $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp grew its position in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after acquiring an additional 20,020 shares during the last quarter. FMR LLC increased its holdings in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp raised its position in SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SEI Investments by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after purchasing an additional 3,967 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Up 0.3 %

SEIC stock opened at $78.04 on Wednesday. The stock has a 50-day moving average price of $75.05 and a 200-day moving average price of $79.08. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The firm has a market cap of $9.81 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million for the quarter, compared to analysts’ expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Raymond James raised 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, William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.60.

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.