Mediolanum International Funds Ltd Buys 625 Shares of SEI Investments (NASDAQ:SEIC)

Mediolanum International Funds Ltd increased its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,659 shares of the asset manager’s stock after buying an additional 625 shares during the period. Mediolanum International Funds Ltd’s holdings in SEI Investments were worth $1,429,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in SEI Investments in the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% in the 3rd 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. Bessemer Group Inc. boosted its holdings in SEI Investments by 184.7% in the 1st 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. EverSource Wealth Advisors LLC boosted its holdings in SEI Investments by 78.3% in the 1st 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. Finally, Mather Group LLC. boosted its holdings in SEI Investments by 181.2% in the 2nd 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. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

SEIC stock opened at $75.10 on Monday. The company has a 50 day simple moving average of $68.94 and a 200 day simple moving average of $67.36. The stock has a market cap of $9.87 billion, a price-to-earnings 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.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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 business had revenue of $537.40 million during 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 firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. On average, equities research analysts anticipate that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments announced that its board has approved a share 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 repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’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 sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’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 transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 in the last ninety days. 14.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SEIC has been the subject of a number of recent research reports. Morgan Stanley boosted 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 boosted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.50.

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.