Ascent Group LLC Makes New $1.39 Million Investment in SEI Investments (NASDAQ:SEIC)

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

A number of other hedge funds also recently bought and sold shares of SEIC. Price T Rowe Associates Inc. MD raised its holdings in shares of SEI Investments by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,860 shares of the asset manager's stock valued at $3,730,000 after acquiring an additional 769 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of SEI Investments by 4.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,375 shares of the asset manager's stock valued at $454,000 after buying an additional 256 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock valued at $41,000 after acquiring an additional 275 shares during the period. GAMMA Investing LLC lifted its holdings in SEI Investments by 41.7% in the second quarter. GAMMA Investing LLC now owns 2,120 shares of the asset manager's stock valued at $137,000 after acquiring an additional 624 shares during the period. Finally, Mather Group LLC. raised its stake 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 during the period. Institutional investors own 70.59% of the company's stock.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company's stock, valued at $484,835. The trade was a 79.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares of the company's stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 in the last ninety days. 14.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their price target on 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 assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $77.50.

SEI Investments Stock Performance

NASDAQ SEIC traded up $1.23 on Wednesday, reaching $82.93. 589,094 shares of the stock traded hands, compared to its average volume of 592,183. The company has a fifty day moving average price of $75.66 and a 200-day moving average price of $69.73. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98. SEI Investments has a 12 month low of $59.42 and a 12 month high of $83.16.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its 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. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. As a group, research analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

SEI Investments 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.