International Assets Investment Management LLC Boosts Stock Position in SEI Investments (NASDAQ:SEIC)

International Assets Investment Management LLC grew its position in shares of SEI Investments (NASDAQ:SEIC) by 6,818.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,560 shares of the asset manager’s stock after purchasing an additional 2,523 shares during the period. International Assets Investment Management LLC’s holdings in SEI Investments were worth $177,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments during the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. increased its stake in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the last quarter. Finally, Mather Group LLC. lifted its position in SEI Investments by 181.2% during 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 during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SEI Investments

In other news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were 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 directly owns 6,500 shares in the company, valued at approximately $484,835. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,646 shares of company stock valued at $12,926,334 over the last three months. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Performance

SEIC opened at $80.03 on Thursday. The company has a market cap of $10.32 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. SEI Investments has a 1 year low of $55.64 and a 1 year high of $80.54. The firm has a 50 day moving average price of $70.18 and a 200 day moving average price of $67.81.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments declared that its board has approved a stock buyback 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on SEIC. Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, SEI Investments 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.