Charles Schwab Investment Management Inc. Lowers Holdings in SEI Investments (NASDAQ:SEIC)

Charles Schwab Investment Management Inc. lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 0.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 664,366 shares of the asset manager’s stock after selling 3,134 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of SEI Investments worth $45,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 78.3% in the 1st 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. Finally, Mather Group LLC. boosted its holdings 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 in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, Director Carl Guarino sold 7,564 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the sale, the director now owns 13,867 shares in the company, valued at approximately $1,050,702.59. This represents a 35.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on 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 owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 over the last quarter. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Up 0.2 %

SEIC opened at $82.63 on Monday. The firm’s fifty day simple moving average is $75.14 and its two-hundred day simple moving average is $69.53. SEI Investments has a 52-week low of $57.86 and a 52-week high of $83.11. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.56 and a beta of 0.97.

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, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period last year, the company posted $0.87 EPS. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on SEIC. Piper Sandler lifted their price objective on shares of 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 price target 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 SEI Investments from $81.00 to $85.00 and gave the stock 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 issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average price target of $77.50.

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.