SEI Investments (NASDAQ:SEIC) Shares Bought by Fmr LLC

FMR LLC lifted its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 249.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 885,113 shares of the asset manager's stock after buying an additional 632,024 shares during the quarter. FMR LLC owned approximately 0.69% of SEI Investments worth $61,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SEIC. Bank of Montreal Can boosted its holdings in SEI Investments by 19.7% in the third quarter. Bank of Montreal Can now owns 149,659 shares of the asset manager's stock valued at $10,368,000 after purchasing an additional 24,624 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in SEI Investments by 7.7% in the third quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the asset manager's stock valued at $581,000 after purchasing an additional 600 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in SEI Investments by 3.8% in the third quarter. Raymond James Trust N.A. now owns 9,282 shares of the asset manager's stock valued at $642,000 after purchasing an additional 343 shares in the last quarter. Aurora Investment Counsel lifted its position 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. Finally, Portfolio Design Labs LLC acquired a new position in SEI Investments in the third quarter valued at $1,701,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 6,500 shares of the company's stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,058 shares of company stock worth $7,245,697. 14.30% of the stock is currently owned by company insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $0.27 on Friday, reaching $84.09. The company's stock had a trading volume of 782,467 shares, compared to its average volume of 584,674. The stock has a market capitalization of $10.84 billion, a P/E ratio of 20.31, a PEG ratio of 1.57 and a beta of 0.98. SEI Investments has a 52-week low of $59.48 and a 52-week high of $84.55. The stock's 50-day moving average is $76.54 and its two-hundred day moving average is $70.03.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced 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 business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company's revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Equities analysts forecast 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 share repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on SEIC. Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Morgan Stanley upped 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 upped their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. One 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. According to data from MarketBeat, SEI Investments presently has a consensus rating of "Hold" and an average target price of $77.50.

About SEI Investments

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.