Tandem Investment Advisors Inc. Lowers Stock Position in SEI Investments (NASDAQ:SEIC)

Tandem Investment Advisors Inc. decreased its holdings in SEI Investments (NASDAQ:SEIC) by 97.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,987 shares of the asset manager’s stock after selling 424,091 shares during the period. Tandem Investment Advisors Inc.’s holdings in SEI Investments were worth $622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments during the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after acquiring an additional 386 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.2 %

Shares of SEIC stock opened at $80.17 on Friday. SEI Investments has a twelve month low of $55.64 and a twelve month high of $80.80. The stock has a 50 day moving average of $70.69 and a 200 day moving average of $67.98. The stock has a market cap of $10.33 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.44 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that SEI Investments will post 4.38 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.50.

Insider Buying and Selling at SEI Investments

In other news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the sale, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $484,835. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other SEI Investments news, EVP Philip Mccabe sold 10,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares of the company’s stock, valued at $3,305,425.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,646 shares of company stock valued at $12,926,334. Corporate insiders own 14.30% of the company’s stock.

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.