Amalgamated Bank Sells 2,125 Shares of SEI Investments (NASDAQ:SEIC)

Amalgamated Bank reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 48,480 shares of the asset manager’s stock after selling 2,125 shares during the quarter. Amalgamated Bank’s holdings in SEI Investments were worth $3,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SEIC. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments during the 2nd quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Bessemer Group Inc. lifted its position in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the last quarter. Finally, Mather Group LLC. lifted its position in SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,646 shares of company stock worth $14,115,934. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 0.1 %

NASDAQ:SEIC opened at $80.11 on Friday. SEI Investments has a twelve month low of $55.64 and a twelve month high of $80.81. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The stock has a fifty day simple moving average of $70.94 and a 200-day simple moving average of $68.08.

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

SEI Investments declared that its board has initiated a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.