SEI Investments (NASDAQ:SEIC) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in SEI Investments (NASDAQ:SEIC) by 54.6% during the third quarter, HoldingsChannel reports. The firm owned 64,879 shares of the asset manager’s stock after selling 78,095 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in SEI Investments were worth $4,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEIC. SG Americas Securities LLC purchased a new stake in shares of SEI Investments in the second quarter valued at about $1,434,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SEI Investments by 20.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after purchasing an additional 10,670 shares in the last quarter. Russell Investments Group Ltd. boosted its position in SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock valued at $8,296,000 after buying an additional 20,533 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of SEI Investments in the 1st quarter valued at about $14,172,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of SEI Investments by 400.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,919 shares of the asset manager’s stock worth $1,648,000 after buying an additional 18,342 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. 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. Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Price Performance

NASDAQ SEIC opened at $80.11 on Friday. The firm’s fifty day moving average price is $70.94 and its 200 day moving average price is $68.07. SEI Investments has a 12 month low of $55.64 and a 12 month high of $80.81. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts forecast that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Carmen Romeo sold 5,000 shares of the 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 completion of the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This 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 this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,646 shares of company stock valued at $14,115,934 over the last quarter. Company insiders own 14.30% of the company’s stock.

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.