Creative Planning Raises Stock Holdings in SEI Investments (NASDAQ:SEIC)

Creative Planning increased its stake in shares of SEI Investments (NASDAQ:SEIC) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,086 shares of the asset manager’s stock after purchasing an additional 182 shares during the quarter. Creative Planning’s holdings in SEI Investments were worth $559,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in SEI Investments in the second quarter valued at about $1,434,000. Mediolanum International Funds Ltd purchased a new stake in SEI Investments in the first quarter valued at about $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in SEI Investments by 20.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after buying an additional 10,670 shares during the last quarter. Russell Investments Group Ltd. raised its stake in SEI Investments by 21.7% in the first quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock valued at $8,296,000 after buying an additional 20,533 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in SEI Investments in the first quarter valued at about $14,172,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the transaction, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the transaction, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carl Guarino sold 7,564 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the transaction, the director now owns 13,867 shares in the company, valued at approximately $1,050,702.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,646 shares of company stock worth $12,926,334. 14.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on SEIC. Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler increased their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Oppenheimer increased their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Up 1.5 %

SEI Investments stock opened at $76.78 on Wednesday. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. SEI Investments has a 52 week low of $55.52 and a 52 week high of $76.95. The business’s 50-day moving average price is $69.98 and its 200 day moving average price is $67.73.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equities analysts expect that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board 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.