Citigroup Inc. Has $12.64 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

Citigroup Inc. trimmed its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 7.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 182,649 shares of the asset manager's stock after selling 14,717 shares during the quarter. Citigroup Inc. owned about 0.14% of SEI Investments worth $12,637,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Aurora Investment Counsel increased its stake in SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock valued at $1,741,000 after acquiring an additional 144 shares during the last quarter. IFG Advisory LLC raised its holdings in shares of SEI Investments by 0.3% during the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager's stock worth $3,831,000 after buying an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 worth $77,000 after buying an additional 168 shares during the last quarter. Creative Planning lifted its position in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after buying an additional 182 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager's stock valued at $3,507,000 after buying an additional 202 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In other SEI Investments news, EVP Philip Mccabe sold 10,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now directly owns 43,544 shares in the company, valued at approximately $3,305,425.04. This trade represents a 19.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Peterson sold 25,000 shares of SEI Investments 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 directly owns 6,500 shares of the company's stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 over the last three months. Company insiders own 14.30% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $0.19 during midday trading on Friday, hitting $82.63. 283,208 shares of the stock were exchanged, compared to its average volume of 593,400. The business's 50-day moving average price is $74.85 and its 200 day moving average price is $69.41. SEI Investments has a 12 month low of $57.86 and a 12 month high of $83.11. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.56 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company'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 firm posted $0.87 EPS. As a group, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SEIC. Piper Sandler increased their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Finally, Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SEI Investments has a consensus rating of "Hold" and an average 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.