Pathstone Holdings LLC Sells 840 Shares of SEI Investments (NASDAQ:SEIC)

Pathstone Holdings LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,148 shares of the asset manager’s stock after selling 840 shares during the quarter. Pathstone Holdings LLC’s holdings in SEI Investments were worth $1,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP raised its holdings in 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. Jupiter Asset Management Ltd. bought a new stake in SEI Investments during the 2nd quarter worth about $7,787,000. West Coast Financial LLC raised its holdings in SEI Investments by 120.8% during the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the last quarter. CIBC Asset Management Inc raised its holdings in SEI Investments by 1,444.2% during the 2nd quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock worth $3,222,000 after purchasing an additional 46,577 shares during the last quarter. Finally, Andra AP fonden raised its holdings in SEI Investments by 45.6% during the 2nd quarter. Andra AP fonden now owns 135,800 shares of the asset manager’s stock worth $8,785,000 after purchasing an additional 42,500 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Peterson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. This trade represents a 60.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 68,064 shares of company stock valued at $5,173,529. 14.30% of the stock is owned by corporate insiders.

SEI Investments Price Performance

Shares of SEIC stock opened at $82.44 on Thursday. The stock has a market cap of $10.63 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. The stock has a 50-day moving average of $74.30 and a 200-day moving average of $69.23. SEI Investments has a one year low of $57.43 and a one year high of $83.02.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (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 business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the prior year, the business earned $0.87 EPS. SEI Investments’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average price target of $77.50.

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.