First Trust Advisors LP lowered its position in SEI Investments (NASDAQ:SEIC) by 13.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 181,856 shares of the asset manager’s stock after selling 29,142 shares during the quarter. First Trust Advisors LP’s holdings in SEI Investments were worth $8,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC lifted its position in SEI Investments by 19.9% during the first quarter. FMR LLC now owns 211,097 shares of the asset manager’s stock valued at $11,030,000 after purchasing an additional 35,067 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in SEI Investments by 20.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 40,605 shares of the asset manager’s stock valued at $2,659,000 after purchasing an additional 6,947 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SEI Investments by 82.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,312 shares of the asset manager’s stock valued at $4,211,000 after purchasing an additional 29,072 shares in the last quarter. NEXT Financial Group Inc lifted its position in SEI Investments by 409.4% during the fourth quarter. NEXT Financial Group Inc now owns 871 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 700 shares in the last quarter. Finally, Davis R M Inc. purchased a new position in SEI Investments during the fourth quarter valued at $3,591,000. 73.78% of the stock is owned by institutional investors.

In other news, major shareholder Alfred P. West, Jr. sold 122,411 shares of SEI Investments stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $60.89, for a total value of $7,453,605.79. Following the sale, the insider now directly owns 9,581,977 shares of the company’s stock, valued at $583,446,579.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 11,587 shares of SEI Investments stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $66.43, for a total value of $769,724.41. Following the completion of the sale, the insider now directly owns 9,760,390 shares in the company, valued at $648,382,707.70. The disclosure for this sale can be found here. Insiders own 22.60% of the company’s stock.

Shares of SEI Investments stock opened at $51.56 on Friday. The stock’s 50-day simple moving average is $49.67 and its 200-day simple moving average is $58.62. SEI Investments has a 52 week low of $35.40 and a 52 week high of $69.61. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.56 and a beta of 1.29. The company has a quick ratio of 5.79, a current ratio of 5.94 and a debt-to-equity ratio of 0.02.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.05). SEI Investments had a net margin of 29.85% and a return on equity of 29.17%. The business had revenue of $414.76 million during the quarter, compared to analysts’ expectations of $409.12 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. SEI Investments’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that SEI Investments will post 2.76 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Several equities analysts recently weighed in on SEIC shares. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating and set a $55.00 target price on the stock in a research report on Tuesday. Oppenheimer lowered their target price on SEI Investments from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Rosenblatt Securities restated a “hold” rating and issued a $47.00 price objective on shares of SEI Investments in a research report on Friday, April 24th. TheStreet downgraded SEI Investments from a “b-” rating to a “c” rating in a research report on Tuesday, March 24th. Finally, ValuEngine upgraded SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.33.

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.

Further Reading: The limitations of an equal weight rating

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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