MQS Management LLC Trims Stock Position in SEI Investments (NASDAQ:SEIC)

by · The Markets Daily

MQS Management LLC trimmed its holdings in SEI Investments (NASDAQ:SEIC – Free Report) by 25.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,740 shares of the asset manager’s stock after selling 2,911 shares during the quarter. MQS Management LLC’s holdings in SEI Investments were worth $605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP grew its holdings in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Bank of New York Mellon Corp boosted its stake in SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after buying an additional 36,810 shares during the period. Raymond James & Associates boosted its stake in SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after buying an additional 19,846 shares during the period. ProShare Advisors LLC increased its position in shares of SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of SEI Investments by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after acquiring an additional 4,656 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In related news, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the sale, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the firm’s 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 directly owns 147,609 shares in the company, valued at $11,055,914.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 200,646 shares of company stock worth $14,115,934. 14.30% of the stock is currently owned by company insiders.

SEI Investments Stock Down 0.7 %

Shares of SEIC stock opened at $80.81 on Wednesday. The firm has a 50 day moving average of $71.48 and a two-hundred day moving average of $68.29. The stock has a market capitalization of $10.42 billion, a PE ratio of 19.52, a P/E/G ratio of 1.55 and a beta of 0.97. SEI Investments has a 52 week low of $56.13 and a 52 week high of $81.67.

SEI Investments (NASDAQ:SEIC – Get Free Report) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.87 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. Analysts expect that SEI Investments will post 4.38 EPS for the current fiscal year.

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

Analyst Ratings Changes

SEIC has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler boosted their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. 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 currently has a consensus rating of “Hold” and a consensus target price of $77.50.

Check Out Our Latest Research Report on SEI Investments

SEI Investments Profile

(Free Report)

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.

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