Loomis Sayles & Co. L P Has $728.90 Million Stake in SEI Investments (NASDAQ:SEIC)

Loomis Sayles & Co. L P lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.4% in the fourth quarter, Holdings Channel reports. The firm owned 8,837,307 shares of the asset manager’s stock after selling 310,622 shares during the period. SEI Investments comprises about 78.7% of Loomis Sayles & Co. L P’s holdings, making the stock its 23rd biggest position. Loomis Sayles & Co. L P owned about 0.07% of SEI Investments worth $728,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. FMR LLC increased its stake in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Raymond James Financial Inc. acquired a new position in shares of SEI Investments in the fourth quarter valued at $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 lifted its stake in SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of SEI Investments during the 4th quarter worth approximately $13,454,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $78.32 on Thursday. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.41 and a beta of 0.94. The company has a 50 day moving average of $80.55 and a 200-day moving average of $78.28. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. Equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has initiated a share repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase 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 shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Raymond James upgraded 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 report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed 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. Piper Sandler raised their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley upped their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.00.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by insiders.

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.