Allspring Global Investments Holdings LLC Has $302,000 Stock Holdings in SEI Investments (NASDAQ:SEIC)

Allspring Global Investments Holdings LLC increased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,368 shares of the asset manager’s stock after buying an additional 513 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SEI Investments were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SEIC. Mirae Asset Global Investments Co. Ltd. boosted its position in SEI Investments by 1.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock worth $6,185,000 after buying an additional 1,391 shares during the period. Central Pacific Bank Trust Division acquired a new stake in SEI Investments during the 1st quarter worth approximately $717,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in SEI Investments by 64.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock worth $446,000 after buying an additional 2,418 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after purchasing an additional 244 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in SEI Investments during the 1st quarter worth approximately $1,443,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Up 1.4 %

NASDAQ:SEIC opened at $75.81 on Friday. The company has a fifty day moving average of $69.81 and a 200-day moving average of $67.65. The firm has a market capitalization of $9.77 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.42 and a beta of 0.97. SEI Investments has a twelve month low of $54.05 and a twelve month high of $76.95.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. On average, analysts anticipate that SEI Investments will post 4.38 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on SEIC shares. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.50.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Philip Mccabe sold 10,500 shares of SEI Investments stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares in the company, valued at $3,305,425.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,646 shares of company stock worth $12,926,334. 14.30% of the stock is owned by corporate insiders.

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.