SEI Investments (NASDAQ:SEIC) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 5.3% during the third quarter, Holdings Channel reports. The firm owned 17,512 shares of the asset manager’s stock after selling 977 shares during the period. IFM Investors Pty Ltd’s holdings in SEI Investments were worth $1,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in SEI Investments by 6,818.9% during the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock worth $177,000 after purchasing an additional 2,523 shares in the last quarter. Private Advisor Group LLC grew its position in shares of SEI Investments by 9.4% during the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock worth $246,000 after acquiring an additional 306 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of SEI Investments by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager’s stock worth $302,000 after acquiring an additional 513 shares during the last quarter. Raymond James & Associates grew its position in shares of SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after acquiring an additional 19,846 shares during the last quarter. Finally, Creative Planning grew its position in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of research reports. Morgan Stanley raised 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Oppenheimer lifted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. 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 has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Price Performance

NASDAQ:SEIC opened at $75.10 on Monday. The firm’s fifty day moving average price is $68.94 and its 200 day moving average price is $67.36. SEI Investments has a 1-year low of $52.19 and a 1-year high of $75.97. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its 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. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter last year, the company earned $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts expect that SEI Investments will post 4.25 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a stock repurchase 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 often a sign that the company’s leadership believes its stock is undervalued.

SEI Investments Company 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.