Beutel Goodman & Co Ltd. Has $219.72 Million Holdings in SEI Investments (NASDAQ:SEIC)

Beutel Goodman & Co Ltd. decreased its stake in shares of SEI Investments (NASDAQ:SEIC) by 33.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,663,869 shares of the asset manager’s stock after selling 1,351,040 shares during the period. Beutel Goodman & Co Ltd.’s holdings in SEI Investments were worth $219,715,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SEIC. Daiwa Securities Group Inc. raised its position in shares of 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 during the period. Bank of Montreal Can raised its holdings in SEI Investments by 19.7% in the 3rd quarter. Bank of Montreal Can now owns 149,659 shares of the asset manager’s stock worth $10,368,000 after acquiring an additional 24,624 shares during the period. FMR LLC lifted its position in 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 acquiring an additional 632,024 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in SEI Investments by 99.1% during the third quarter. BNP Paribas Financial Markets now owns 90,902 shares of the asset manager’s stock valued at $6,290,000 after acquiring an additional 45,241 shares during the period. Finally, Townsquare Capital LLC grew its position in shares of SEI Investments by 30.6% in the third quarter. Townsquare Capital LLC now owns 26,839 shares of the asset manager’s stock valued at $1,857,000 after purchasing an additional 6,286 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on SEIC shares. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley raised their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One equities 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. According to data from MarketBeat, SEI Investments has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 1.3 %

Shares of NASDAQ:SEIC opened at $77.11 on Friday. The firm has a market capitalization of $9.79 billion, a PE ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The business’s 50 day moving average is $80.33 and its 200-day moving average is $78.36.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, sell-side analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership 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.