Wrapmanager Inc. Sells 564 Shares of SEI Investments (NASDAQ:SEIC)

Wrapmanager Inc. decreased its position in SEI Investments (NASDAQ:SEIC) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,942 shares of the asset manager’s stock after selling 564 shares during the quarter. Wrapmanager Inc.’s holdings in SEI Investments were worth $204,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SEIC. Dimensional Fund Advisors LP grew its holdings in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in SEI Investments during the second quarter worth about $7,787,000. West Coast Financial LLC increased its position in SEI Investments by 120.8% during the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after acquiring an additional 63,537 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in SEI Investments by 67.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock worth $10,376,000 after purchasing an additional 58,808 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in SEI Investments by 1,444.2% in the 2nd quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock valued at $3,222,000 after purchasing an additional 46,577 shares during the period. Institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 6,500 shares in the company, valued at $484,835. The trade was a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

Shares of SEIC opened at $79.46 on Wednesday. The firm has a 50 day simple moving average of $72.90 and a two-hundred day simple moving average of $68.79. SEI Investments has a one year low of $57.43 and a one year high of $81.97. The company has a market cap of $10.24 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.52 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a stock repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

SEIC has been the topic of several recent research reports. Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Finally, Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average target price 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.