SEI Investments (NASDAQ:SEIC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of SEI Investments (NASDAQ:SEIC) by 66.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,158 shares of the asset manager’s stock after selling 14,059 shares during the period. Intech Investment Management LLC’s holdings in SEI Investments were worth $495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after purchasing an additional 222,631 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in SEI Investments during the 2nd quarter valued at about $7,787,000. West Coast Financial LLC grew its holdings in SEI Investments by 120.8% during the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock valued at $7,512,000 after buying an additional 63,537 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of SEI Investments by 1,444.2% in the second quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock valued at $3,222,000 after buying an additional 46,577 shares during the last quarter. Finally, Andra AP fonden grew its position in shares of SEI Investments by 45.6% in the second quarter. Andra AP fonden now owns 135,800 shares of the asset manager’s stock valued at $8,785,000 after purchasing an additional 42,500 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Up 0.2 %

SEI Investments stock opened at $82.63 on Monday. The company has a market capitalization 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. The firm’s fifty day simple moving average is $75.14 and its 200-day simple moving average is $69.53. SEI Investments has a 1-year low of $57.86 and a 1-year high of $83.11.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data 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%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities research analysts predict that SEI Investments will post 4.41 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at $514,410. This trade represents a 60.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade 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 valued at $5,173,529 in the last 90 days. 14.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SEIC. Morgan Stanley increased their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer increased their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, 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 research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.