IFM Investors Pty Ltd Reduces Position in SEI Investments (NASDAQ:SEIC)

IFM Investors Pty Ltd decreased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,512 shares of the asset manager’s stock after selling 977 shares during the quarter. IFM Investors Pty Ltd’s holdings in SEI Investments were worth $1,212,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. grew its holdings in shares of 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 period. Finally, Mather Group LLC. grew its holdings in shares of 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 purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 report on Thursday. Morgan Stanley upped their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday. Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.50.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of SEIC opened at $75.10 on Monday. The stock has a market capitalization of $9.87 billion, a PE ratio of 20.52, a P/E/G ratio of 1.39 and a beta of 0.99. SEI Investments has a 1 year low of $52.19 and a 1 year high of $75.97. The company’s 50-day simple moving average is $68.94 and its 200-day simple moving average is $67.36.

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 the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. On average, sell-side analysts predict that SEI Investments will post 4.25 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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.