Y Intercept Hong Kong Ltd Buys New Position in SEI Investments Company $SEIC

Y Intercept Hong Kong Ltd purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,585 shares of the asset manager’s stock, valued at approximately $322,000.

Several other large investors also recently bought and sold shares of SEIC. Lord Abbett & CO. LLC purchased a new stake in shares of SEI Investments during the first quarter valued at approximately $51,773,000. Millennium Management LLC grew its holdings in SEI Investments by 339.3% during the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock valued at $60,832,000 after purchasing an additional 605,252 shares in the last quarter. Amundi increased its stake in SEI Investments by 228.2% during the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares during the period. Azora Capital LP acquired a new position in SEI Investments in the 1st quarter worth $28,852,000. Finally, Nuveen LLC purchased a new position in SEI Investments in the 1st quarter valued at about $21,407,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares in the company, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares of the company’s stock, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 55,000 shares of company stock worth $4,811,200. 14.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SEIC. Raymond James Financial lifted their target price on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Piper Sandler decreased their price target on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Finally, Morgan Stanley lifted their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $82.92 on Friday. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The business has a 50 day simple moving average of $84.40 and a 200-day simple moving average of $85.65.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. As a group, equities research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase program on Friday, October 24th that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.