CI Investments Inc. lowered its stake in SEI Investments (NASDAQ:SEIC – Get Rating) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,782 shares of the asset manager’s stock after selling 503 shares during the quarter. CI Investments Inc.’s holdings in SEI Investments were worth $168,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. bought a new position in SEI Investments in the 1st quarter worth about $36,000. Artemis Wealth Advisors LLC bought a new position in SEI Investments in the 1st quarter worth about $40,000. Quadrant Capital Group LLC boosted its stake in SEI Investments by 104.6% in the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after purchasing an additional 431 shares during the period. UMB Bank N A MO bought a new position in SEI Investments in the 4th quarter worth about $52,000. Finally, Lazard Asset Management LLC boosted its stake in SEI Investments by 114.4% in the 4th quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock worth $53,000 after purchasing an additional 469 shares during the period. Institutional investors own 70.50% of the company’s stock.
SEI Investments Price Performance
NASDAQ:SEIC opened at $54.19 on Wednesday. The business has a 50 day moving average of $55.10 and a 200 day moving average of $56.50. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.21 and a beta of 0.98. SEI Investments has a 1-year low of $51.07 and a 1-year high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last released its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The firm had revenue of $481.67 million during the quarter, compared to the consensus estimate of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. As a group, sell-side analysts anticipate that SEI Investments will post 3.71 EPS for the current year.
SEI Investments declared that its Board of Directors has approved a share buyback program on Wednesday, June 1st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Piper Sandler dropped their price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Morgan Stanley dropped their price target on SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. The Goldman Sachs Group dropped their price target on SEI Investments to $58.00 in a research report on Friday, July 22nd. Finally, William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.50.
Insider Buying and Selling
In related news, EVP Wayne Withrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the completion of the sale, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,164,208.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of SEI Investments stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the transaction, the insider now directly owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Withrow sold 15,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the completion of the transaction, the executive vice president now directly owns 38,799 shares in the company, valued at $2,164,208.22. The disclosure for this sale can be found here. 25.40% of the stock is currently owned by corporate insiders.
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.
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