Acadian Asset Management LLC Reduces Stock Position in SEI Investments Company $SEIC

Acadian Asset Management LLC lessened its holdings in SEI Investments Company (NASDAQ:SEIC) by 58.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,687 shares of the asset manager’s stock after selling 146,394 shares during the quarter. Acadian Asset Management LLC owned approximately 0.08% of SEI Investments worth $9,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bison Wealth LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $207,000. CWM LLC grew its stake in SEI Investments by 0.4% in the 1st quarter. CWM LLC now owns 54,828 shares of the asset manager’s stock worth $4,256,000 after acquiring an additional 216 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of SEI Investments by 6.5% during the first quarter. Victory Capital Management Inc. now owns 174,651 shares of the asset manager’s stock worth $13,558,000 after acquiring an additional 10,603 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of SEI Investments in the first quarter valued at approximately $2,946,000. 70.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SEIC shares. Morgan Stanley raised their price objective on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Piper Sandler decreased their price objective on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Finally, Raymond James Financial boosted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

SEI Investments Stock Up 0.2%

Shares of SEI Investments stock opened at $83.70 on Thursday. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.25 billion, a P/E ratio of 15.39, a PEG ratio of 1.22 and a beta of 0.96. The firm’s 50 day moving average price is $84.12 and its 200-day moving average price is $85.89. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96.

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

SEI Investments announced that its board has approved a share repurchase program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,000 shares of company stock valued at $4,811,200 in the last quarter. 14.60% 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.