abrdn plc Sells 21,529 Shares of SEI Investments (NASDAQ:SEIC)

abrdn plc lowered its stake in SEI Investments (NASDAQ:SEIC) by 87.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,023 shares of the asset manager’s stock after selling 21,529 shares during the quarter. abrdn plc’s holdings in SEI Investments were worth $209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SEIC. Dimensional Fund Advisors LP increased its position in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of SEI Investments by 3.2% in the second 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 buying an additional 36,810 shares in the last quarter. Raymond James & Associates increased its holdings in SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after buying an additional 19,846 shares during the last quarter. ProShare Advisors LLC raised its position in SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock worth $30,082,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in SEI Investments by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after acquiring an additional 4,656 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other SEI Investments news, Director Carl Guarino sold 7,564 shares of SEI Investments 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 completion of the sale, 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 through the SEC website. In other news, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the sale, the director now directly owns 13,867 shares in the company, valued at approximately $1,050,702.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,646 shares of company stock worth $12,926,334. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 1.5 %

Shares of NASDAQ:SEIC opened at $76.78 on Wednesday. SEI Investments has a 12-month low of $55.52 and a 12-month high of $76.95. The business has a 50 day moving average of $69.98 and a 200-day moving average of $67.73. The stock has a market cap of $9.90 billion, a PE ratio of 18.55, a P/E/G ratio of 1.44 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. Equities research analysts expect that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments declared that its board has approved a share buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

SEIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SEI Investments currently has an average rating of “Hold” and a consensus target price 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.