SEI Investments (NASDAQ:SEIC) Stake Reduced by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC cut its holdings in SEI Investments (NASDAQ:SEIC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,321 shares of the asset manager’s stock after selling 277 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in SEI Investments were worth $1,752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. FMR LLC raised its position in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in SEI Investments in the 2nd quarter worth about $7,787,000. Verition Fund Management LLC increased its stake in SEI Investments by 2,766.3% in the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after purchasing an additional 107,222 shares in the last quarter. Finally, West Coast Financial LLC increased its stake in SEI Investments by 120.8% in 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 in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the topic of a number of analyst reports. Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.50.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the sale, the chairman now owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,058 shares of company stock valued at $7,245,697 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

NASDAQ:SEIC opened at $84.09 on Monday. SEI Investments has a fifty-two week low of $59.48 and a fifty-two week high of $84.55. The stock’s 50-day moving average is $76.54 and its two-hundred day moving average is $70.05. The stock has a market cap of $10.84 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released 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 return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the previous year, the business posted $0.87 EPS. The business’s revenue for the quarter 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 year.

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

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.