Ethic Inc. Grows Stock Position in SEI Investments Company $SEIC

Ethic Inc. raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 3.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,503 shares of the asset manager’s stock after buying an additional 133 shares during the period. Ethic Inc.’s holdings in SEI Investments were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SEIC. Lord Abbett & CO. LLC purchased a new position in shares of SEI Investments during the 1st quarter valued at about $51,773,000. Millennium Management LLC increased its stake in shares of SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock valued at $60,832,000 after purchasing an additional 605,252 shares in the last quarter. Amundi increased its stake in shares of SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock valued at $57,472,000 after purchasing an additional 543,753 shares in the last quarter. Azora Capital LP purchased a new position in shares of SEI Investments in the 1st quarter valued at about $28,852,000. Finally, Nuveen LLC purchased a new position in shares of SEI Investments in the 1st quarter valued at about $21,407,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the sale, the director owned 16,042 shares of the company’s stock, valued at $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the sale, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,000 shares of company stock valued at $4,811,200 over the last quarter. 14.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Piper Sandler cut their price objective on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, July 24th. Finally, Raymond James Financial boosted their price objective on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.40.

SEI Investments Trading Down 1.5%

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

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The business had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. Analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has initiated a share buyback plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

SEI Investments Company 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.