Ingalls & Snyder LLC Has $2.89 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Ingalls & Snyder LLC cut its position in shares of SEI Investments (NASDAQ:SEIC) by 0.5% in the third quarter, Holdings Channel reports. The institutional investor owned 41,750 shares of the asset manager’s stock after selling 200 shares during the period. Ingalls & Snyder LLC’s holdings in SEI Investments were worth $2,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after purchasing an additional 222,631 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in SEI Investments in the second quarter valued at approximately $7,787,000. Verition Fund Management LLC grew its stake in SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after purchasing an additional 107,222 shares in the last quarter. Finally, West Coast Financial LLC increased its position in shares of SEI Investments by 120.8% during the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insiders Place Their Bets

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 over the last three months. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 0.1 %

Shares of SEIC stock traded up $0.07 during trading on Tuesday, reaching $81.99. 8,383 shares of the company’s stock were exchanged, compared to its average volume of 590,389. SEI Investments has a twelve month low of $59.42 and a twelve month high of $83.15. The firm’s fifty day moving average price is $75.14 and its 200-day moving average price is $69.54. The stock has a market capitalization of $10.57 billion, a PE ratio of 19.79, a PEG ratio of 1.56 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, analysts anticipate that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Oppenheimer increased their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.50.

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.