abrdn plc Raises Holdings in SEI Investments (NASDAQ:SEIC)

abrdn plc boosted its holdings in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,987 shares of the asset manager’s stock after buying an additional 1,798 shares during the quarter. abrdn plc’s holdings in SEI Investments were worth $699,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in SEI Investments by 2.3% in the first quarter. BlackRock Inc. now owns 11,645,954 shares of the asset manager’s stock worth $701,203,000 after purchasing an additional 260,417 shares during the last quarter. State Street Corp grew its holdings in SEI Investments by 0.8% in the third quarter. State Street Corp now owns 6,293,623 shares of the asset manager’s stock worth $308,702,000 after purchasing an additional 52,265 shares during the last quarter. First Trust Advisors LP grew its holdings in SEI Investments by 3.0% in the first quarter. First Trust Advisors LP now owns 1,418,169 shares of the asset manager’s stock worth $85,388,000 after purchasing an additional 41,915 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in SEI Investments by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 1,348,443 shares of the asset manager’s stock worth $66,141,000 after purchasing an additional 89,432 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in SEI Investments by 6.8% in the fourth quarter. Boston Trust Walden Corp now owns 1,265,913 shares of the asset manager’s stock worth $73,803,000 after purchasing an additional 80,817 shares during the last quarter. 69.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on SEIC shares. Piper Sandler started coverage on shares of SEI Investments in a report on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price target on the stock. Morgan Stanley boosted their price objective on shares of SEI Investments from $54.00 to $58.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. StockNews.com assumed coverage on shares of SEI Investments in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Oppenheimer reissued an “outperform” rating and set a $68.00 price objective on shares of SEI Investments in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.80.

SEI Investments Price Performance

NASDAQ SEIC opened at $57.13 on Friday. The company has a market capitalization of $7.62 billion, a PE ratio of 19.84, a P/E/G ratio of 1.42 and a beta of 1.01. The company has a fifty day moving average of $57.55 and a 200 day moving average of $59.48. SEI Investments has a 1 year low of $46.30 and a 1 year high of $64.69.

SEI Investments (NASDAQ:SEIC – Get Rating) last posted its earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). The business had revenue of $469.12 million for the quarter, compared to analyst estimates of $468.79 million. SEI Investments had a net margin of 20.88% and a return on equity of 22.29%. The company’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Research analysts expect that SEI Investments will post 3.38 earnings per share for the current year.

SEI Investments announced that its board has approved a share repurchase program on Tuesday, April 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 15,659 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $56.06, for a total transaction of $877,843.54. Following the completion of the transaction, the chairman now directly owns 8,568,128 shares in the company, valued at $480,329,255.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 15,659 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $56.06, for a total value of $877,843.54. Following the completion of the transaction, the chairman now owns 8,568,128 shares in the company, valued at $480,329,255.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 65,900 shares of the company’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $55.45, for a total transaction of $3,654,155.00. Following the completion of the transaction, the chairman now owns 8,583,787 shares of the company’s stock, valued at approximately $475,970,989.15. The disclosure for this sale can be found here. Insiders sold 118,021 shares of company stock worth $6,551,993 over the last three months. Company insiders own 25.40% of the company’s stock.

SEI Investments Company Profile

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SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.