Chevy Chase Trust Holdings LLC Acquires 54,118 Shares of SEI Investments (NASDAQ:SEIC)

Chevy Chase Trust Holdings LLC increased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 211.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 79,690 shares of the asset manager's stock after purchasing an additional 54,118 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of SEI Investments worth $5,514,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments in the second quarter worth about $30,000. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake 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 purchasing an additional 500 shares in the last quarter. Mather Group LLC. boosted 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 valued at $50,000 after purchasing an additional 500 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock valued at $77,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Hold" and a consensus price target of $77.50.

Insider Buying and Selling

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

SEI Investments Stock Performance

SEIC stock traded up $0.27 during trading on Friday, hitting $84.09. 782,467 shares of the company traded hands, compared to its average volume of 592,999. The company has a 50-day moving average of $76.25 and a 200-day moving average of $69.92. SEI Investments has a 1 year low of $59.48 and a 1 year high of $84.55. The firm has a market capitalization of $10.84 billion, a PE ratio of 20.35, a P/E/G ratio of 1.54 and a beta of 0.98.

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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm 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 business earned $0.87 earnings per share. Sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its board has authorized 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board 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.