Ascent Group LLC Makes New Investment in SEI Investments (NASDAQ:SEIC)

Ascent Group LLC acquired a new stake in SEI Investments (NASDAQ:SEIC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,014 shares of the asset manager’s stock, valued at approximately $1,385,000.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its stake in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares during the period. Jupiter Asset Management Ltd. purchased a new position in SEI Investments during the 2nd quarter worth approximately $7,787,000. Verition Fund Management LLC boosted its position in SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after acquiring an additional 107,222 shares during the period. Finally, West Coast Financial LLC increased its stake in SEI Investments by 120.8% in the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock valued at $7,512,000 after buying an additional 63,537 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,064 shares of company stock worth $5,173,529 in the last quarter. 14.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

SEI Investments Trading Down 0.3 %

SEI Investments stock opened at $81.70 on Wednesday. SEI Investments has a 12 month low of $59.42 and a 12 month high of $83.15. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98. The stock’s 50 day moving average is $75.40 and its 200-day moving average is $69.63.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million during 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 for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. As a group, equities research analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is 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.