Mackenzie Financial Corp Decreases Stock Position in SEI Investments (NASDAQ:SEIC)

Mackenzie Financial Corp cut its stake in SEI Investments (NASDAQ:SEIC) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,722 shares of the asset manager’s stock after selling 833 shares during the period. Mackenzie Financial Corp’s holdings in SEI Investments were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. VisionPoint Advisory Group LLC boosted its holdings in SEI Investments by 67.1% in the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the period. C M Bidwell & Associates Ltd. boosted its holdings in SEI Investments by 5,302.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,161 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 2,121 shares during the period. Caprock Group LLC purchased a new position in SEI Investments in the third quarter valued at $201,000. Signaturefd LLC boosted its holdings in SEI Investments by 44.5% in the third quarter. Signaturefd LLC now owns 3,341 shares of the asset manager’s stock valued at $201,000 after purchasing an additional 1,029 shares during the period. Finally, Bison Wealth LLC purchased a new position in SEI Investments in the fourth quarter valued at $210,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of recent analyst reports. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price target (up from $72.00) on shares of SEI Investments in a report on Thursday. Piper Sandler decreased their price target on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Oppenheimer lifted their price target on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. One 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.00.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of SEI Investments stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the sale, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the transaction, the chairman now owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,333 shares of company stock worth $14,481,612. Corporate insiders own 15.50% of the company’s stock.

SEI Investments Stock Performance

SEIC opened at $66.48 on Friday. The business’s 50-day simple moving average is $68.56 and its 200-day simple moving average is $63.33. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock has a market capitalization of $8.74 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a return on equity of 23.40% and a net margin of 24.80%. The business had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that SEI Investments will post 4.08 EPS for the current fiscal year.

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.