SEI Investments (NASDAQ:SEIC) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its stake in shares of SEI Investments (NASDAQ:SEIC) by 45.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 49,136 shares of the asset manager’s stock after purchasing an additional 15,341 shares during the quarter. Vinva Investment Management Ltd’s holdings in SEI Investments were worth $3,404,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SEIC. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments during the second quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased 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 worth $38,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC increased 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 worth $41,000 after buying an additional 275 shares during the period. Finally, Mather Group LLC. increased 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 worth $50,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SEIC. Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler increased their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One 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 company presently has a consensus rating of “Hold” and a consensus target price of $77.50.

Insider Activity

In other news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. 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 quarter. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $82.44 on Friday. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.56 and a beta of 0.97. SEI Investments has a 12 month low of $57.43 and a 12 month high of $83.02. The firm’s 50 day simple moving average is $74.59 and its 200-day simple moving average is $69.32.

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. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.