Chevy Chase Trust Holdings LLC Purchases 54,118 Shares of SEI Investments (NASDAQ:SEIC)

Chevy Chase Trust Holdings LLC lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 211.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 79,690 shares of the asset manager’s stock after acquiring an additional 54,118 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in SEI Investments were worth $5,514,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the 2nd quarter worth about $30,000. First Horizon Advisors Inc. boosted its stake in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the period. Mather Group LLC. raised its stake in SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer increased their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Price Performance

SEI Investments stock opened at $83.82 on Friday. The business has a fifty day moving average price of $75.95 and a 200-day moving average price of $69.82. SEI Investments has a 1-year low of $59.48 and a 1-year high of $83.86. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.54 and a beta of 0.98.

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

SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $514,410. The trade was a 60.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 in the last three months. Corporate insiders own 14.30% of the company’s stock.

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.