Caisse DE Depot ET Placement DU Quebec Sells 158,555 Shares of SEI Investments (NASDAQ:SEIC)

Caisse DE Depot ET Placement DU Quebec cut its holdings in shares of SEI Investments (NASDAQ:SEIC) by 38.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,084 shares of the asset manager’s stock after selling 158,555 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in SEI Investments were worth $17,649,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SEIC. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in SEI Investments in the 2nd quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after buying an additional 275 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.77, for a total transaction of $573,124.28. Following the transaction, the director now directly owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,064 shares of company stock valued at $5,173,529. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Up 0.2 %

SEI Investments stock opened at $82.63 on Monday. The company’s 50-day moving average price is $75.14 and its 200-day moving average price is $69.53. The company has a market cap of $10.65 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. SEI Investments has a twelve month low of $57.86 and a twelve month high of $83.11.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, sell-side analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on SEIC shares. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.50.

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.