MetLife Investment Management LLC Sells 1,561 Shares of SEI Investments (NASDAQ:SEIC)

MetLife Investment Management LLC lessened its holdings in SEI Investments (NASDAQ:SEIC) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other hedge funds also recently made changes to their positions in SEIC. Dimensional Fund Advisors LP grew its position in 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 valued at $89,291,000 after acquiring an additional 222,631 shares during the period. Bank of New York Mellon Corp boosted its stake 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 valued at $76,751,000 after purchasing an additional 36,810 shares in the last quarter. FMR LLC grew its holdings in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Raymond James & Associates increased its position in shares of SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in SEI Investments by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after purchasing an additional 2,698 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,064 shares of company stock worth $5,173,529. Insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 0.3 %

Shares of SEIC stock opened at $81.70 on Wednesday. SEI Investments has a 1 year low of $59.42 and a 1 year high of $83.15. The firm’s 50 day moving average is $75.40 and its 200-day moving average is $69.63. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98.

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

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

SEIC has been the topic of several research analyst reports. Morgan Stanley upped their price objective 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 increased their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research 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, SEI Investments currently has a consensus rating of “Hold” and an average price target of $77.50.

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.