SEI Investments (NASDAQ:SEIC) Shares Sold by Private Trust Co. NA

Private Trust Co. NA trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 902 shares of the asset manager’s stock after selling 234 shares during the period. Private Trust Co. NA’s holdings in SEI Investments were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of SEI Investments in the second quarter valued at approximately $7,787,000. West Coast Financial LLC increased its stake in shares of SEI Investments by 120.8% during the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock valued at $7,512,000 after acquiring an additional 63,537 shares during the period. CIBC Asset Management Inc raised its holdings in SEI Investments by 1,444.2% during the second quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock worth $3,222,000 after purchasing an additional 46,577 shares in the last quarter. Finally, Andra AP fonden lifted its position in SEI Investments by 45.6% in the second quarter. Andra AP fonden now owns 135,800 shares of the asset manager’s stock worth $8,785,000 after purchasing an additional 42,500 shares during the period. Institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. The trade was a 6.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,064 shares of company stock worth $5,173,529. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 0.2 %

Shares of SEIC opened at $82.63 on Friday. The business’s 50-day moving average price is $75.14 and its 200 day moving average price is $69.52. The stock has a market capitalization 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. SEI Investments has a 1-year low of $57.86 and a 1-year high of $83.11.

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

SEI Investments declared that its board has authorized a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on SEIC. Piper Sandler upped their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

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.