Bank of Montreal Can Boosts Stock Holdings in SEI Investments (NASDAQ:SEIC)

Bank of Montreal Can raised its position in shares of SEI Investments (NASDAQ:SEIC) by 19.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 149,659 shares of the asset manager’s stock after acquiring an additional 24,624 shares during the quarter. Bank of Montreal Can’s holdings in SEI Investments were worth $10,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of SEI Investments during the 2nd quarter worth $1,434,000. Texas Permanent School Fund Corp raised its stake in SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after acquiring an additional 8,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in SEI Investments by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after purchasing an additional 8,094 shares during the last quarter. GAMMA Investing LLC boosted its position in SEI Investments by 41.7% during the second quarter. GAMMA Investing LLC now owns 2,120 shares of the asset manager’s stock worth $137,000 after purchasing an additional 624 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of SEI Investments by 12.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after purchasing an additional 8,243 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip Mccabe sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now directly owns 43,544 shares in the company, valued at $3,305,425.04. This represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,064 shares of company stock worth $5,173,529 in the last ninety days. 14.30% of the stock is currently owned by insiders.

SEI Investments Trading Up 0.2 %

Shares of NASDAQ:SEIC opened at $82.63 on Monday. SEI Investments has a 12 month low of $57.86 and a 12 month high of $83.11. The stock has a market cap 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 company has a 50 day moving average of $75.14 and a 200 day moving average of $69.53.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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. The firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. On average, equities analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share 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 usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SEIC shares. Morgan Stanley upped their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler increased their target price 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 report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average target price 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.