SEI Investments (NASDAQ:SEIC) Shares Sold by Centiva Capital LP

Centiva Capital LP lessened its holdings in SEI Investments (NASDAQ:SEIC) by 46.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,479 shares of the asset manager’s stock after selling 13,439 shares during the quarter. Centiva Capital LP’s holdings in SEI Investments were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the second quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. grew its stake in shares of SEI Investments by 181.2% during the 2nd 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 period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $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.

SEI Investments Price Performance

SEIC stock opened at $83.82 on Friday. SEI Investments has a 12 month low of $59.48 and a 12 month high of $83.86. The firm has a market capitalization of $10.81 billion, a PE ratio of 20.25, a P/E/G ratio of 1.54 and a beta of 0.98. The company’s 50 day simple moving average is $75.95 and its 200-day simple moving average is $69.82.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter last year, the business posted $0.87 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared 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 outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Peterson sold 25,000 shares of the company’s 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 completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. 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 quarter, insiders sold 68,064 shares of company stock worth $5,173,529. 14.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler lifted their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

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.