abrdn plc lessened its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 87.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,023 shares of the asset manager's stock after selling 21,529 shares during the period. abrdn plc's holdings in SEI Investments were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of SEIC. SG Americas Securities LLC purchased a new stake in shares of SEI Investments during the 2nd quarter valued at approximately $1,434,000. Mediolanum International Funds Ltd acquired a new stake in SEI Investments in the 1st quarter valued at approximately $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SEI Investments by 20.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager's stock valued at $4,495,000 after purchasing an additional 10,670 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager's stock valued at $8,296,000 after purchasing an additional 20,533 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in SEI Investments in the 1st quarter valued at approximately $14,172,000. Institutional investors and hedge funds own 70.59% of the company's stock.
Insider Activity at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now directly owns 7,605,414 shares of the company's stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares of the company's stock, valued at approximately $484,835. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the sale, the chairman now directly owns 7,605,414 shares of the company's stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,646 shares of company stock valued at $12,926,334 over the last ninety days. Insiders own 14.30% of the company's stock.
SEI Investments Trading Up 4.2 %
Shares of SEIC stock traded up $3.25 on Wednesday, reaching $80.03. 783,252 shares of the stock were exchanged, compared to its average volume of 590,072. The business's 50 day moving average price is $70.18 and its 200 day moving average price is $67.81. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.44 and a beta of 0.97. SEI Investments has a twelve month low of $55.64 and a twelve month high of $80.54.
SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. During the same period in the previous year, the company earned $0.87 earnings per share. SEI Investments's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that SEI Investments will post 4.38 earnings per share for the current year.
SEI Investments announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several analysts recently weighed in on SEIC shares. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Oppenheimer boosted their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $77.50.
Check Out Our Latest Report on SEIC
SEI Investments Company 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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