Ashton Thomas Private Wealth LLC Decreases Stake in SEI Investments (NASDAQ:SEIC)

Ashton Thomas Private Wealth LLC decreased its holdings in SEI Investments (NASDAQ:SEIC) by 5.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,411 shares of the asset manager’s stock after selling 861 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in SEI Investments were worth $997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of SEI Investments in the 2nd quarter valued at $1,434,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SEI Investments by 20.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after purchasing an additional 10,670 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of SEI Investments by 21.7% during the first quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after purchasing an additional 20,533 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of SEI Investments in the first quarter worth about $14,172,000. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of SEI Investments by 400.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,919 shares of the asset manager’s stock valued at $1,648,000 after buying an additional 18,342 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Down 0.2 %

Shares of NASDAQ:SEIC opened at $80.65 on Thursday. The firm has a market cap of $10.40 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. The company has a fifty day simple moving average of $71.76 and a 200 day simple moving average of $68.38. SEI Investments has a 12-month low of $56.69 and a 12-month high of $81.67.

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

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits 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 leadership believes its stock is undervalued.

Analysts Set New Price Targets

SEIC has been the subject of a number of analyst reports. Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their target price 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,646 shares of company stock worth $14,115,934 over the last ninety days. 14.30% of the stock is owned by insiders.

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.