SEI Investments (NASDAQ:SEIC) Stake Lifted by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 72.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,605 shares of the asset manager's stock after buying an additional 39,711 shares during the period. Van ECK Associates Corp owned 0.07% of SEI Investments worth $6,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new position in SEI Investments in the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock worth $41,000 after acquiring an additional 275 shares during the period. Bessemer Group Inc. lifted its stake in shares of SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager's stock worth $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock worth $50,000 after purchasing an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEIC. Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. Finally, Morgan Stanley boosted their price target on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.50.

SEI Investments Stock Performance

SEI Investments stock traded up $0.09 during trading on Friday, reaching $80.26. 366,648 shares of the company's stock were exchanged, compared to its average volume of 589,810. SEI Investments has a 52-week low of $55.64 and a 52-week high of $80.81. The company's 50-day moving average is $70.69 and its two-hundred day moving average is $67.98. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.52 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for 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 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 company earned $0.87 earnings per share. Analysts anticipate that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its board has initiated a stock 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the company'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 owns 147,609 shares in the company, valued at approximately $11,055,914.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,646 shares of company stock valued at $14,115,934 in the last three months. Corporate insiders own 14.30% of the company's stock.

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.