Healthcare of Ontario Pension Plan Trust Fund Invests $254,000 in SEI Investments (NASDAQ:SEIC)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,667 shares of the asset manager’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments in the second quarter valued at $30,000. First Horizon Advisors Inc. increased 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 acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised 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 during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEIC. Morgan Stanley upped their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.50.

Insiders Place Their Bets

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on 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 represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Guarino sold 7,564 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total transaction of $573,124.28. Following the completion of the sale, the director now directly owns 13,867 shares in the company, valued at $1,050,702.59. This represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 over the last ninety days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $81.92 on Tuesday. SEI Investments has a 52-week low of $59.42 and a 52-week high of $83.15. The stock has a market cap of $10.56 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.56 and a beta of 0.97. The firm has a 50 day moving average price of $75.14 and a 200 day moving average price of $69.54.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company 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 was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. Analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.