Quantinno Capital Management LP Increases Stock Position in SEI Investments (NASDAQ:SEIC)

Quantinno Capital Management LP raised its position in SEI Investments (NASDAQ:SEIC) by 56.7% in the third quarter, Holdings Channel reports. The fund owned 17,591 shares of the asset manager’s stock after buying an additional 6,364 shares during the period. Quantinno Capital Management LP’s holdings in SEI Investments were worth $1,217,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SEIC. Aurora Investment Counsel increased its position in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after purchasing an additional 144 shares in the last quarter. IFG Advisory LLC boosted its position in SEI Investments by 0.3% during the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after acquiring an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares during the last quarter. Creative Planning lifted its holdings in SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares during the last quarter. Finally, Signaturefd LLC increased its position in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of analyst reports. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler increased 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. Finally, Morgan Stanley increased 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 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.50.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the company’s 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 directly owns 7,371,522 shares in the company, valued at $620,903,298.06. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. 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 three months. 14.30% of the stock is currently owned by insiders.

SEI Investments Trading Up 1.0 %

NASDAQ SEIC opened at $86.58 on Friday. The business’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $70.51. SEI Investments has a 12 month low of $60.55 and a 12 month high of $87.18. The firm has a market capitalization of $11.16 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its 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 return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

About SEI Investments

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.