Veritable L.P. Purchases 328 Shares of SEI Investments (NASDAQ:SEIC)

Veritable L.P. lifted its position in SEI Investments (NASDAQ:SEICGet Rating) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,158 shares of the asset manager’s stock after acquiring an additional 328 shares during the quarter. Veritable L.P.’s holdings in SEI Investments were worth $311,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of SEI Investments by 19.8% in the 1st quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock worth $1,337,000 after acquiring an additional 3,666 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of SEI Investments in the 1st quarter worth about $419,000. Bank of New York Mellon Corp lifted its holdings in SEI Investments by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,229,388 shares of the asset manager’s stock valued at $74,021,000 after buying an additional 31,845 shares in the last quarter. Raymond James & Associates lifted its holdings in SEI Investments by 10.7% during the 1st quarter. Raymond James & Associates now owns 347,417 shares of the asset manager’s stock valued at $20,918,000 after buying an additional 33,489 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in SEI Investments by 55.3% during the 1st quarter. JPMorgan Chase & Co. now owns 408,652 shares of the asset manager’s stock valued at $24,605,000 after buying an additional 145,432 shares in the last quarter. Institutional investors own 70.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SEIC. Piper Sandler decreased their price objective on shares of SEI Investments to $61.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Morgan Stanley decreased their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a report on Monday, July 25th. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of SEI Investments to $58.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.50.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 15,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $55.78, for a total value of $836,700.00. Following the transaction, the executive vice president now owns 38,799 shares of the company’s stock, valued at approximately $2,164,208.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Wayne Withrow sold 15,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $55.78, for a total value of $836,700.00. Following the transaction, the executive vice president now owns 38,799 shares of the company’s stock, valued at approximately $2,164,208.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dennis Mcgonigle sold 35,000 shares of SEI Investments stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the transaction, the insider now directly owns 576,663 shares in the company, valued at approximately $31,802,964.45. The disclosure for this sale can be found here. Insiders own 25.40% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $54.26 on Wednesday. SEI Investments has a one year low of $51.07 and a one year high of $65.22. The firm has a market cap of $7.35 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.23 and a beta of 0.99. The firm has a 50-day simple moving average of $55.04 and a 200-day simple moving average of $56.55.

SEI Investments (NASDAQ:SEICGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business had revenue of $481.67 million during the quarter, compared to the consensus estimate of $472.18 million. During the same quarter in the prior year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts predict that SEI Investments will post 3.71 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

SEI Investments Company Profile

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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.

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