Townsquare Capital LLC Has $1.86 Million Holdings in SEI Investments (NASDAQ:SEIC)

Townsquare Capital LLC increased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 30.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,839 shares of the asset manager’s stock after purchasing an additional 6,286 shares during the quarter. Townsquare Capital LLC’s holdings in SEI Investments were worth $1,857,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after purchasing an additional 222,631 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in SEI Investments in the second quarter valued at approximately $7,787,000. West Coast Financial LLC increased its position in shares of SEI Investments by 120.8% during the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of SEI Investments by 1,444.2% during the 2nd 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. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

SEI Investments Price Performance

NASDAQ:SEIC opened at $82.63 on Monday. The company 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 firm’s fifty day moving average price is $75.14 and its two-hundred day moving average price is $69.53. SEI Investments has a one year low of $57.86 and a one year high of $83.11.

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

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

Insider Transactions at SEI Investments

In related news, EVP Philip Mccabe sold 10,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total value of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares in the company, valued at approximately $3,305,425.04. This represents a 19.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,064 shares of company stock worth $5,173,529. Company insiders own 14.30% of the company’s stock.

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.