Ontario Teachers Pension Plan Board Raises Position in SEI Investments Company $SEIC

Ontario Teachers Pension Plan Board boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 25.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,640 shares of the asset manager’s stock after buying an additional 3,943 shares during the period. Ontario Teachers Pension Plan Board’s holdings in SEI Investments were worth $1,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of SEI Investments by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock valued at $134,487,000 after acquiring an additional 111,065 shares in the last quarter. Boston Trust Walden Corp raised its stake in SEI Investments by 3.3% in the second quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock valued at $123,079,000 after purchasing an additional 44,195 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SEI Investments by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock valued at $62,186,000 after purchasing an additional 45,019 shares in the last quarter. Millennium Management LLC lifted its position in SEI Investments by 339.3% during the first quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock valued at $60,832,000 after purchasing an additional 605,252 shares during the last quarter. Finally, Amundi grew its stake in SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

NASDAQ SEIC opened at $81.57 on Monday. The company has a 50-day simple moving average of $83.87 and a two-hundred day simple moving average of $86.00. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.22 and a beta of 0.96. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The company had revenue of $578.51 million during the quarter, compared to analyst estimates of $578.75 million. During the same quarter in the previous year, the company posted $1.19 EPS. SEI Investments’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a share buyback program on Friday, October 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Raymond James Financial increased their price objective on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, Piper Sandler dropped their target price on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This represents a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares in the company, valued at approximately $1,386,189.22. This trade represents a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,000 shares of company stock worth $4,811,200. 14.60% of the stock is currently owned by insiders.

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.