US Bancorp DE Sells 148 Shares of SEI Investments (NASDAQ:SEIC)

US Bancorp DE lessened its holdings in SEI Investments (NASDAQ:SEIC) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,274 shares of the asset manager’s stock after selling 148 shares during the quarter. US Bancorp DE’s holdings in SEI Investments were worth $2,510,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fairfield Financial Advisors LTD bought a new position in SEI Investments in the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. increased its holdings in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares during the period. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction dated 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,646 shares of company stock valued at $12,926,334 in the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 1.5 %

Shares of NASDAQ SEIC opened at $76.78 on Wednesday. SEI Investments has a twelve month low of $55.52 and a twelve month high of $76.95. The business’s 50 day moving average price is $69.98 and its two-hundred day moving average price is $67.73. The company has a market cap of $9.90 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, research analysts anticipate that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SEIC shares. Morgan Stanley lifted their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Oppenheimer upped their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. 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.com, the stock currently has an average rating of “Hold” and an average price target of $77.50.

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.