Bank of Montreal Can Has $10.37 Million Holdings in SEI Investments (NASDAQ:SEIC)

Bank of Montreal Can boosted its position in SEI Investments (NASDAQ:SEIC) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,659 shares of the asset manager’s stock after buying an additional 24,624 shares during the period. Bank of Montreal Can owned approximately 0.12% of SEI Investments worth $10,368,000 at the end of the most recent quarter.

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

SEI Investments Price Performance

NASDAQ:SEIC opened at $82.63 on Monday. SEI Investments has a one year low of $57.86 and a one year high of $83.11. The company has a market cap of $10.65 billion, a PE ratio of 19.96, a PEG ratio of 1.56 and a beta of 0.97. The firm has a 50-day moving average of $75.14 and a 200-day moving average of $69.53.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 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 firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer boosted their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley upped their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One 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. According to MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $77.50.

Insider Activity at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of the company’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 value of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction 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 owns 147,609 shares in the company, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,064 shares of company stock valued at $5,173,529. 14.30% of the stock is owned by insiders.

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.