XTX Topco Ltd Lowers Position in SEI Investments (NASDAQ:SEIC)

XTX Topco Ltd trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,203 shares of the asset manager’s stock after selling 468 shares during the period. XTX Topco Ltd’s holdings in SEI Investments were worth $1,052,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. National Bank of Canada FI lifted its holdings in shares of SEI Investments by 9,796.7% during the third quarter. National Bank of Canada FI now owns 2,969 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 2,939 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of SEI Investments by 56.7% during the third quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after purchasing an additional 6,364 shares during the last quarter. Petrus Trust Company LTA lifted its holdings in shares of SEI Investments by 81.8% during the third quarter. Petrus Trust Company LTA now owns 11,105 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 4,998 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments during the third quarter valued at approximately $45,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of SEI Investments during the third quarter valued at approximately $540,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the sale, the chairman now owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,058 shares of company stock valued at $7,245,697. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 0.4 %

Shares of SEIC opened at $84.39 on Tuesday. The company has a market capitalization of $10.88 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98. The firm has a 50 day moving average of $76.85 and a 200 day moving average of $70.17. SEI Investments has a twelve month low of $59.96 and a twelve month high of $84.75.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $534.08 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEIC. Oppenheimer lifted their target price 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. Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley raised their price target 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. One 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 company’s stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus price target of $77.50.

About SEI Investments

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.