SEI Investments (NASDAQ:SEIC) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its stake in shares of SEI Investments (NASDAQ:SEIC) by 90.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,693 shares of the asset manager’s stock after selling 16,966 shares during the quarter. iA Global Asset Management Inc.’s holdings in SEI Investments were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter worth approximately $30,000. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of SEI Investments during the 3rd quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction 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 transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 5,984 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $84.23, for a total transaction of $504,032.32. Following the sale, the chairman now owns 7,371,522 shares of the company’s stock, valued at $620,903,298.06. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,058 shares of company stock valued at $7,245,697 in the last ninety days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Stock Performance

Shares of SEIC stock opened at $85.42 on Wednesday. The stock’s 50-day moving average is $77.17 and its two-hundred day moving average is $70.29. SEI Investments has a 1 year low of $59.96 and a 1 year high of $86.04. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.59 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same quarter last year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

SEIC has been the topic of a number of analyst reports. Morgan Stanley raised their price target 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 boosted their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SEI Investments currently has an average rating of “Hold” and an average price target of $77.50.

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.