Vestcor Inc Sells 3,197 Shares of SEI Investments (NASDAQ:SEIC)

Vestcor Inc lowered its position in shares of SEI Investments (NASDAQ:SEIC) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,952 shares of the asset manager’s stock after selling 3,197 shares during the quarter. Vestcor Inc owned approximately 0.14% of SEI Investments worth $15,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after purchasing an additional 172 shares during the last quarter. HighTower Advisors LLC increased its holdings in SEI Investments by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,513 shares of the asset manager’s stock valued at $950,000 after purchasing an additional 574 shares during the last quarter. Moors & Cabot Inc. increased its holdings in SEI Investments by 5.7% in the fourth quarter. Moors & Cabot Inc. now owns 20,780 shares of the asset manager’s stock valued at $1,714,000 after purchasing an additional 1,129 shares during the last quarter. King Luther Capital Management Corp bought a new stake in SEI Investments in the fourth quarter valued at about $2,645,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SEI Investments by 28.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,237 shares of the asset manager’s stock valued at $2,989,000 after purchasing an additional 8,032 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’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 sale, the insider now owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,414 shares of company stock valued at $18,801,608 over the last three months. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SEIC shares. Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. 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 note on Thursday, January 30th. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. 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 research note on Thursday, January 30th. Finally, Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.00.

SEI Investments Price Performance

SEIC stock opened at $73.80 on Thursday. The stock has a market capitalization of $9.37 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.41 and a beta of 0.94. The business has a 50-day moving average of $81.60 and a 200-day moving average of $77.67. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data 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 return on equity of 25.51% and a net margin of 27.35%. Equities analysts expect that SEI Investments will post 4.86 EPS for the current year.

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.