Atlanta Consulting Group Advisors LLC Invests $263,000 in SEI Investments (NASDAQ:SEIC)

Atlanta Consulting Group Advisors LLC purchased a new stake in SEI Investments (NASDAQ:SEIC) in the third quarter, Holdings Channel.com reports. The firm purchased 3,797 shares of the asset manager’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in SEI Investments by 10.3% in the 3rd quarter. Metis Global Partners LLC now owns 6,569 shares of the asset manager’s stock valued at $455,000 after acquiring an additional 614 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in SEI Investments by 4.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,982 shares of the asset manager’s stock worth $1,244,000 after purchasing an additional 768 shares during the last quarter. GHE LLC lifted its holdings in SEI Investments by 6.0% during the 3rd quarter. GHE LLC now owns 8,943 shares of the asset manager’s stock worth $583,000 after buying an additional 510 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of SEI Investments by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 161,248 shares of the asset manager’s stock valued at $11,157,000 after buying an additional 973 shares during the period. Finally, Versor Investments LP raised its position in shares of SEI Investments by 421.7% during the third quarter. Versor Investments LP now owns 35,385 shares of the asset manager’s stock worth $2,448,000 after acquiring an additional 28,603 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $80.23 on Monday. The firm’s 50 day simple moving average is $72.36 and its 200 day simple moving average is $68.60. SEI Investments has a fifty-two week low of $57.43 and a fifty-two week high of $81.97. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.52 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the sale, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,646 shares of company stock worth $14,115,934. Corporate insiders own 14.30% of the company’s stock.

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.