SEI Investments (NASDAQ:SEIC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,042 shares of the asset manager’s stock after selling 1,561 shares during the quarter. MetLife Investment Management LLC’s holdings in SEI Investments were worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments during the second quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after buying an additional 275 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the 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 transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,064 shares of company stock worth $5,173,529. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC opened at $81.70 on Wednesday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.55 and a beta of 0.98. SEI Investments has a fifty-two week low of $59.42 and a fifty-two week high of $83.15. The business’s 50-day moving average is $75.40 and its 200-day moving average is $69.63.

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

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

Analyst Ratings Changes

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

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.