SEI Investments (NASDAQ:SEIC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in SEI Investments (NASDAQ:SEIC) by 45.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,619 shares of the asset manager’s stock after selling 16,136 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SEI Investments were worth $1,357,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new position in SEI Investments during the 2nd quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. lifted 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 worth $43,000 after purchasing an additional 386 shares in the last quarter. Finally, Mather Group LLC. boosted 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 during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SEIC. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.50.

Insider Activity at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock valued at $5,173,529 over the last three months. 14.30% of the stock is owned by corporate insiders.

SEI Investments Trading Up 1.1 %

Shares of SEIC opened at $82.44 on Wednesday. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.53 and a beta of 0.97. The firm’s fifty day simple moving average is $74.00 and its 200-day simple moving average is $69.13. SEI Investments has a twelve month low of $57.43 and a twelve month high of $82.47.

SEI Investments (NASDAQ:SEIC) last announced its quarterly 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 company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same period in the previous year, the business earned $0.87 EPS. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

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.