abrdn plc Sells 21,529 Shares of SEI Investments (NASDAQ:SEIC)

abrdn plc reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 87.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,023 shares of the asset manager’s stock after selling 21,529 shares during the period. abrdn plc’s holdings in SEI Investments were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. IFG Advisory LLC lifted its holdings in shares of SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after acquiring an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. Creative Planning lifted its stake in SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the last quarter. Diversified Trust Co boosted its position in SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of SEI Investments by 7.8% during the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after buying an additional 213 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Up 1.5 %

Shares of NASDAQ:SEIC opened at $76.78 on Wednesday. The firm has a market cap of $9.90 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.44 and a beta of 0.97. SEI Investments has a 12-month low of $55.52 and a 12-month high of $76.95. The business has a fifty day simple moving average of $69.98 and a 200 day simple moving average of $67.73.

SEI Investments (NASDAQ:SEIC) last issued 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. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that SEI Investments will post 4.38 EPS for the current year.

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

Analyst Ratings Changes

SEIC has been the subject of a number of research reports. Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley increased their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Oppenheimer upped 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average price target of $77.50.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 $516,193,455.96. The trade was 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 related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s 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 transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,646 shares of company stock worth $12,926,334. Company insiders own 14.30% of the company’s stock.

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.