Intech Investment Management LLC Has $495,000 Stock Holdings in SEI Investments (NASDAQ:SEIC)

Intech Investment Management LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 66.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,158 shares of the asset manager’s stock after selling 14,059 shares during the quarter. Intech Investment Management LLC’s holdings in SEI Investments were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEIC. Aurora Investment Counsel grew its position in shares of SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares during the period. Portfolio Design Labs LLC bought a new stake in shares of SEI Investments during the 3rd quarter worth $1,701,000. First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Caprock Group LLC boosted its stake in shares of SEI Investments by 21.7% in the 3rd quarter. Caprock Group LLC now owns 4,375 shares of the asset manager’s stock valued at $303,000 after purchasing an additional 779 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of SEI Investments by 0.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 210,704 shares of the asset manager’s stock valued at $14,579,000 after acquiring an additional 603 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the sale, the director now owns 13,867 shares in the company, valued at $1,050,702.59. The trade was a 35.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,577,652 shares in the company, valued at $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. Insiders sold a total of 68,064 shares of company stock valued at $5,173,529 in the last three months. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Up 0.2 %

SEIC stock opened at $82.63 on Monday. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.56 and a beta of 0.97. SEI Investments has a twelve month low of $57.86 and a twelve month high of $83.11. The business’s fifty day simple moving average is $75.14 and its two-hundred day simple moving average is $69.53.

SEI Investments (NASDAQ:SEIC) last announced its 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 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 for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Research analysts expect that SEI Investments will post 4.41 EPS for the current year.

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

Analysts Set New Price Targets

SEIC has been the topic of a number of recent analyst reports. 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. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.