Martingale Asset Management L P Decreases Holdings in SEI Investments (NASDAQ:SEIC)

Martingale Asset Management L P trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,665 shares of the asset manager’s stock after selling 4,041 shares during the period. Martingale Asset Management L P owned about 0.08% of SEI Investments worth $7,103,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Aurora Investment Counsel raised its holdings in shares of SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares in the last quarter. IFG Advisory LLC raised its holdings in shares of SEI Investments by 0.3% during the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after buying an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares in the last quarter. Creative Planning raised its holdings in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares in the last quarter. Finally, Diversified Trust Co grew its position in SEI Investments by 0.4% during the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after acquiring an additional 202 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 $125,644,205.28. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,064 shares of company stock worth $5,173,529. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Performance

Shares of SEIC stock opened at $82.63 on Friday. The firm has a market cap of $10.65 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97. SEI Investments has a fifty-two week low of $57.86 and a fifty-two week high of $83.11. The business’s 50 day moving average price is $74.85 and its 200-day moving average price is $69.41.

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

SEI Investments declared that its Board of Directors has initiated a share 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler raised their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley raised their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One 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 stock. Based on data from MarketBeat.com, the stock has an average 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.