Caisse DE Depot ET Placement DU Quebec Sells 158,555 Shares of SEI Investments (NASDAQ:SEIC)

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 38.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 255,084 shares of the asset manager’s stock after selling 158,555 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.20% of SEI Investments worth $17,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments in the 2nd quarter worth approximately $30,000. First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares during the period. EverSource Wealth Advisors LLC increased its position in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Finally, Mather Group LLC. increased its position in SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 over the last three months. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $82.63 on Monday. The company has a 50 day simple moving average of $75.14 and a two-hundred day simple moving average of $69.53. SEI Investments has a fifty-two week low of $57.86 and a fifty-two week high of $83.11. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating 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 analyst estimates of $534.08 million. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SEIC. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.