Asset Management One Co. Ltd. Has $1.10 Million Stake in SEI Investments Company $SEIC

Asset Management One Co. Ltd. lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 76.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 12,207 shares of the asset manager’s stock after selling 38,870 shares during the period. Asset Management One Co. Ltd.’s holdings in SEI Investments were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. First Citizens Bank & Trust Co. lifted its position in shares of SEI Investments by 114.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock worth $1,916,000 after buying an additional 11,373 shares in the last quarter. Ethic Inc. lifted its position in shares of SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of SEI Investments by 193.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,002 shares of the asset manager’s stock worth $360,000 after buying an additional 2,638 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $205,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $211,000. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Piper Sandler lowered their price target on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Raymond James Financial lifted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Morgan Stanley lifted their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Stock Down 1.5%

SEI Investments stock opened at $80.61 on Thursday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.23 and a beta of 0.96. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $85.48 and a 200 day simple moving average of $85.27.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million during the quarter, compared to analyst estimates of $578.75 million. During the same period in the previous year, the business earned $1.19 EPS. SEI Investments’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a share repurchase plan on Friday, October 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,000 shares of company stock worth $4,811,200. Corporate insiders own 14.60% of the company’s stock.

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.