SEI Investments (NASDAQ:SEIC) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of SEI Investments (NASDAQ:SEIC) by 13.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,642 shares of the asset manager’s stock after selling 2,777 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in SEI Investments were worth $1,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in SEI Investments by 4.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,375 shares of the asset manager’s stock valued at $454,000 after buying an additional 256 shares in the last quarter. Mather Group LLC. increased its holdings in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of SEI Investments in the 2nd quarter valued at approximately $1,434,000. Thrive Wealth Management LLC raised its position in shares of SEI Investments by 3.0% in the 2nd quarter. Thrive Wealth Management LLC now owns 41,928 shares of the asset manager’s stock valued at $2,712,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target 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. Piper Sandler upped their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research 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 research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $77.50.

Insider Buying and Selling at SEI Investments

In other news, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $484,835. The trade was a 79.37 % decrease in their position. 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 stock in a transaction on 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 directly 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. Over the last ninety days, insiders sold 68,064 shares of company stock valued at $5,173,529. 14.30% of the stock is owned by company insiders.

SEI Investments Price Performance

NASDAQ:SEIC opened at $83.82 on Friday. The firm has a market capitalization of $10.81 billion, a P/E ratio of 20.25, a PEG ratio of 1.54 and a beta of 0.98. The company’s fifty day moving average price is $75.95 and its 200-day moving average price is $69.82. SEI Investments has a 1-year low of $59.48 and a 1-year high of $83.86.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. 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 posted $0.87 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.