Lansing Street Advisors Makes New $444,000 Investment in SEI Investments (NASDAQ:SEIC)

Lansing Street Advisors bought a new position in SEI Investments (NASDAQ:SEIC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 6,416 shares of the asset manager’s stock, valued at approximately $444,000.

A number of other large investors have also recently modified their holdings of the stock. Van ECK Associates Corp grew its position in shares of SEI Investments by 72.3% in the 3rd quarter. Van ECK Associates Corp now owns 94,605 shares of the asset manager’s stock worth $6,689,000 after buying an additional 39,711 shares during the period. First Trust Direct Indexing L.P. increased its holdings in SEI Investments by 21.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager’s stock worth $459,000 after buying an additional 1,165 shares in the last quarter. Baker Tilly Wealth Management LLC grew its stake in shares of SEI Investments by 22.5% in the third quarter. Baker Tilly Wealth Management LLC now owns 5,537 shares of the asset manager’s stock worth $383,000 after acquiring an additional 1,016 shares during the period. State of Alaska Department of Revenue raised its stake in SEI Investments by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 199,610 shares of the asset manager’s stock valued at $13,811,000 after buying an additional 775 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in SEI Investments by 3.1% in the third quarter. Mediolanum International Funds Ltd now owns 20,659 shares of the asset manager’s stock valued at $1,429,000 after acquiring an additional 625 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler lifted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. One 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. According to data from MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $77.50.

Insider Transactions at SEI Investments

In related news, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the transaction, the director now owns 13,867 shares in the company, valued at $1,050,702.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Carl Guarino sold 7,564 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the transaction, the director now directly owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Philip Mccabe sold 10,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares of the company’s stock, valued at approximately $3,305,425.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,646 shares of company stock valued at $12,926,334 in the last 90 days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $75.81 on Monday. The company’s 50-day simple moving average is $69.81 and its 200-day simple moving average is $67.66. SEI Investments has a fifty-two week low of $54.05 and a fifty-two week high of $76.95. The stock has a market capitalization of $9.77 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.42 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

SEI Investments Profile

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.