SEI Investments (NASDAQ:SEIC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its position in shares of SEI Investments (NASDAQ:SEIC) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 664,366 shares of the asset manager’s stock after selling 3,134 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SEI Investments were worth $45,967,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of SEI Investments in the 2nd quarter valued at $1,434,000. Texas Permanent School Fund Corp raised its holdings in SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after buying an additional 8,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in SEI Investments by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after buying an additional 8,094 shares during the last quarter. GAMMA Investing LLC boosted its stake in SEI Investments by 41.7% during the second quarter. GAMMA Investing LLC now owns 2,120 shares of the asset manager’s stock worth $137,000 after buying an additional 624 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of SEI Investments by 12.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock valued at $4,925,000 after acquiring an additional 8,243 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEIC has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” 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. Finally, Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $77.50.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock valued at $5,173,529 in the last three months. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Performance

Shares of SEIC stock opened at $82.63 on Monday. The stock has a market capitalization of $10.65 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. SEI Investments has a fifty-two week low of $57.86 and a fifty-two week high of $83.11. The company has a 50 day moving average price of $75.14 and a 200 day moving average price of $69.53.

SEI Investments (NASDAQ:SEIC) last posted its quarterly 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%. The company’s quarterly 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 earnings per share. On average, research analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments 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.