Banco Santander S.A. Sells 2,600 Shares of SEI Investments (NASDAQ:SEIC)

Banco Santander S.A. trimmed its stake in SEI Investments (NASDAQ:SEIC) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,300 shares of the asset manager’s stock after selling 2,600 shares during the quarter. Banco Santander S.A.’s holdings in SEI Investments were worth $2,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEIC. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in SEI Investments by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after purchasing an additional 36,810 shares during the last quarter. Raymond James & Associates grew its holdings in SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 shares during the period. ProShare Advisors LLC increased its position in SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock worth $30,082,000 after buying an additional 2,698 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in SEI Investments by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after buying an additional 4,656 shares during the period. Institutional investors own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction 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 directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of the business’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 directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,227 shares of company stock valued at $12,265,700. 14.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on SEIC shares. Oppenheimer lifted 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. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research 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 report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. 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, the stock has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $80.21 on Friday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.50 and a beta of 0.97. The stock’s fifty day moving average price is $73.44 and its two-hundred day moving average price is $68.94. SEI Investments has a one year low of $57.43 and a one year high of $81.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same period in the prior year, the company posted $0.87 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are 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.