Algert Global LLC Sells 12,610 Shares of SEI Investments (NASDAQ:SEIC)

Algert Global LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 20.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,690 shares of the asset manager’s stock after selling 12,610 shares during the quarter. Algert Global LLC’s holdings in SEI Investments were worth $3,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Aurora Investment Counsel grew its position in shares of SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after buying an additional 144 shares during the last quarter. IFG Advisory LLC boosted its holdings in SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after acquiring an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in 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 purchasing an additional 168 shares during the period. Creative Planning raised 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 in the last quarter. Finally, Diversified Trust Co lifted its position in shares of SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SEIC. Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler raised their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average target price of $77.50.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was 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 in the company, valued at $505,488,637.60. The trade was a 0.81 % 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, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,064 shares of company stock valued at $9,282,489 over the last 90 days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 0.9 %

SEIC stock opened at $81.57 on Tuesday. The business has a 50 day moving average of $74.00 and a 200 day moving average of $69.13. SEI Investments has a twelve month low of $57.43 and a twelve month high of $81.97. The firm has a market cap of $10.52 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97.

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

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