iSAM Funds UK Ltd Sells 6,754 Shares of SEI Investments (NASDAQ:SEIC)

iSAM Funds UK Ltd lowered its position in SEI Investments (NASDAQ:SEIC - Free Report) by 62.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,059 shares of the asset manager's stock after selling 6,754 shares during the quarter. iSAM Funds UK Ltd's holdings in SEI Investments were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after buying an additional 632,024 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock worth $89,291,000 after acquiring an additional 222,631 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of SEI Investments in the second quarter valued at approximately $7,787,000. Verition Fund Management LLC grew its position in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager's stock valued at $7,687,000 after purchasing an additional 107,222 shares during the last quarter. Finally, West Coast Financial LLC grew its holdings in SEI Investments by 120.8% in the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager's stock valued at $7,512,000 after buying an additional 63,537 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEIC. Piper Sandler increased 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. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of "Hold" and a consensus target price of $77.50.

Insider Buying and Selling at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was 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 approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 10,000 shares of the company'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 value of $749,000.00. Following the completion of the sale, the chief executive officer now directly owns 147,609 shares of the company's stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,058 shares of company stock valued at $7,245,697 in the last 90 days. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.30 during trading hours on Monday, reaching $84.39. The stock had a trading volume of 653,958 shares, compared to its average volume of 593,306. SEI Investments has a 12-month low of $59.96 and a 12-month high of $84.75. The stock has a 50 day simple moving average of $76.54 and a 200 day simple moving average of $70.05. The stock has a market cap of $10.88 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.12. The firm 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%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, equities analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a share repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is 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.