KBC Group NV Sells 21,932 Shares of SEI Investments (NASDAQ:SEIC)

KBC Group NV lessened its stake in shares of SEI Investments (NASDAQ:SEIC) by 5.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 365,808 shares of the asset manager’s stock after selling 21,932 shares during the period. KBC Group NV’s holdings in SEI Investments were worth $25,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEIC. Dimensional Fund Advisors LP raised its position 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 valued at $89,291,000 after purchasing an additional 222,631 shares during the period. Jupiter Asset Management Ltd. bought a new stake in SEI Investments during the second quarter valued at about $7,787,000. West Coast Financial LLC lifted its position in shares of SEI Investments by 120.8% in 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of SEI Investments by 67.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after acquiring an additional 58,808 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of SEI Investments by 1,444.2% in the second quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock worth $3,222,000 after acquiring an additional 46,577 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEIC. Morgan Stanley lifted their target price on 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 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, 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 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Hold” and an average price target of $77.50.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at $514,410. The trade was a 60.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,646 shares of company stock valued at $14,115,934. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC opened at $80.23 on Friday. The stock has a 50 day moving average price of $72.36 and a 200-day moving average price of $68.57. SEI Investments has a one year low of $57.43 and a one year high of $81.97. The company has a market capitalization of $10.34 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.54 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the business earned $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts predict that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.