KBC Group NV Decreases Stock Holdings in SEI Investments (NASDAQ:SEIC)

KBC Group NV lowered its position in shares of SEI Investments (NASDAQ:SEIC) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 365,808 shares of the asset manager’s stock after selling 21,932 shares during the period. KBC Group NV owned about 0.28% of SEI Investments worth $25,311,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP grew its stake in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of SEI Investments by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after buying an additional 36,810 shares during the last quarter. Raymond James & Associates increased its stake in shares of SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after buying an additional 19,846 shares during the period. ProShare Advisors LLC raised its holdings in shares of SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in SEI Investments by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock worth $24,671,000 after acquiring an additional 4,656 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Down 1.6 %

Shares of NASDAQ:SEIC opened at $80.23 on Friday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.54 and a beta of 0.97. The stock has a fifty day simple moving average of $72.36 and a two-hundred day simple moving average of $68.57. SEI Investments has a 12-month low of $57.43 and a 12-month high of $81.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share 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 analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities research analysts predict that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its board has initiated a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SEIC. Morgan Stanley boosted their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer boosted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated 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, Piper Sandler upped their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” 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 stock. Based on data from MarketBeat.com, the stock presently 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 61,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This represents a 0.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $484,835. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is owned by insiders.

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.