The Manufacturers Life Insurance Company Lowers Stock Holdings in SEI Investments (NASDAQ:SEIC)

The Manufacturers Life Insurance Company lessened its position in SEI Investments (NASDAQ:SEIC) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,242 shares of the asset manager’s stock after selling 3,987 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of SEI Investments worth $5,898,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. boosted its position in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. increased its position in shares of 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 acquiring an additional 500 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 6,500 shares in the company, valued at $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,064 shares of company stock valued at $5,173,529 in the last quarter. Insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their price objective 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. One investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Price Performance

NASDAQ SEIC opened at $83.82 on Friday. The company has a market cap of $10.81 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.54 and a beta of 0.98. SEI Investments has a 12 month low of $59.48 and a 12 month high of $83.86. The company has a 50-day moving average of $75.95 and a 200-day moving average of $69.82.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has initiated a stock repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often 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.