Townsquare Capital LLC Has $1.86 Million Position in SEI Investments (NASDAQ:SEIC)

Townsquare Capital LLC lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 30.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,839 shares of the asset manager’s stock after purchasing an additional 6,286 shares during the period. Townsquare Capital LLC’s holdings in SEI Investments were worth $1,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aurora Investment Counsel boosted its position in SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares during the last quarter. IFG Advisory LLC increased its position in 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 purchasing an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 during the last quarter. Creative Planning lifted its position in SEI Investments by 2.3% during 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 period. Finally, Diversified Trust Co boosted its stake in shares of SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after purchasing an additional 202 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SEIC. Morgan Stanley increased 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, October 24th. Piper Sandler raised their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” 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 stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average target price of $77.50.

Insider Activity

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction 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 filing with the SEC, which is accessible through this link. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction that occurred 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 owns 1,577,652 shares in the company, valued at $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 have sold 68,064 shares of company stock worth $5,173,529 in the last 90 days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $82.63 on Monday. The company has a 50 day moving average price of $75.14 and a two-hundred day moving average price of $69.53. The company has a market capitalization of $10.65 billion, a PE ratio of 19.96, a PEG ratio of 1.56 and a beta of 0.97. SEI Investments has a 52 week low of $57.86 and a 52 week high of $83.11.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its board has initiated a share buyback program on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.