Metis Global Partners LLC Buys 614 Shares of SEI Investments (NASDAQ:SEIC)

Metis Global Partners LLC grew its stake in SEI Investments (NASDAQ:SEIC) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,569 shares of the asset manager’s stock after buying an additional 614 shares during the period. Metis Global Partners LLC’s holdings in SEI Investments were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments during the second quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Bessemer Group Inc. increased its position in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. raised its stake in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the sale, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,646 shares of company stock worth $14,115,934. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler increased their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $80.58 on Tuesday. The company’s fifty day moving average is $72.64 and its 200-day moving average is $68.70. SEI Investments has a 52 week low of $57.43 and a 52 week high of $81.97. The company has a market capitalization of $10.39 billion, a PE ratio of 19.46, a P/E/G ratio of 1.52 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 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates 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 for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. On average, analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its board has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

SEI Investments Company 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.