SEI Investments (NASDAQ:SEIC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 53,354 shares of the asset manager’s stock after selling 3,818 shares during the period. Mutual of America Capital Management LLC’s holdings in SEI Investments were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. Dimensional Fund Advisors LP raised its stake in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares in the last quarter. Bank of New York Mellon Corp raised its position in SEI Investments by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after acquiring an additional 36,810 shares in the last quarter. Raymond James & Associates raised its position in SEI Investments by 3.8% in 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 in the last quarter. ProShare Advisors LLC lifted its holdings in SEI Investments by 0.6% in the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of SEI Investments by 1.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock worth $24,671,000 after purchasing an additional 4,656 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on SEIC shares. Morgan Stanley raised their price objective 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. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Trading Up 0.8 %

Shares of NASDAQ SEIC opened at $80.82 on Friday. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.50 and a beta of 0.97. The company’s 50-day moving average price is $73.72 and its 200 day moving average price is $69.03. SEI Investments has a 52 week low of $57.43 and a 52 week high of $81.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments 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 approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,227 shares of company stock worth $12,265,700. 14.30% of the stock is owned by insiders.

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.