20,014 Shares in SEI Investments (NASDAQ:SEIC) Bought by Ascent Group LLC

Ascent Group LLC bought a new position in SEI Investments (NASDAQ:SEIC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,014 shares of the asset manager’s stock, valued at approximately $1,385,000.

A number of other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of SEI Investments during the second quarter valued at $1,434,000. Texas Permanent School Fund Corp boosted its holdings in shares of SEI Investments by 9.6% in the second quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock worth $6,187,000 after buying an additional 8,387 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of SEI Investments by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after acquiring an additional 8,094 shares during the period. GAMMA Investing LLC raised its stake in shares of SEI Investments by 41.7% in the second quarter. GAMMA Investing LLC now owns 2,120 shares of the asset manager’s stock worth $137,000 after buying an additional 624 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of SEI Investments by 12.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after purchasing an additional 8,243 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SEI Investments

In other news, Director Carl Guarino sold 7,564 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the sale, the director now owns 13,867 shares in the company, valued at $1,050,702.59. This represents a 35.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. The trade was a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,064 shares of company stock worth $5,173,529 over the last three months. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

SEIC stock opened at $81.70 on Wednesday. SEI Investments has a 1-year low of $59.42 and a 1-year high of $83.15. The business has a 50-day moving average price of $75.40 and a 200 day moving average price of $69.63. The company has a market capitalization of $10.53 billion, a P/E ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. On average, analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEIC. Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer boosted their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.