abrdn plc Buys 1,798 Shares of SEI Investments (NASDAQ:SEIC)

abrdn plc increased its stake in SEI Investments (NASDAQ:SEIC – Get Rating) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,987 shares of the asset manager’s stock after acquiring an additional 1,798 shares during the period. abrdn plc’s holdings in SEI Investments were worth $699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SEIC. Harel Insurance Investments & Financial Services Ltd. purchased a new position in SEI Investments during the 4th quarter valued at about $42,000. Denali Advisors LLC increased its holdings in SEI Investments by 1,860.5% during the 4th quarter. Denali Advisors LLC now owns 843 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 800 shares during the period. Bessemer Group Inc. increased its holdings in SEI Investments by 790.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,158 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 1,028 shares during the period. Mendota Financial Group LLC purchased a new position in SEI Investments during the 4th quarter valued at about $86,000. Finally, Twin Tree Management LP increased its holdings in SEI Investments by 103.7% during the 3rd quarter. Twin Tree Management LP now owns 1,869 shares of the asset manager’s stock valued at $92,000 after purchasing an additional 52,176 shares during the period. Institutional investors own 69.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SEIC shares. Piper Sandler started coverage on SEI Investments in a report on Wednesday, March 29th. They set a “neutral” rating and a $60.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $68.00 price target on shares of SEI Investments in a report on Tuesday, April 4th. StockNews.com started coverage on SEI Investments in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on SEI Investments from $54.00 to $58.00 and gave the stock an “underweight” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus target price of $60.80.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 65,900 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $55.45, for a total value of $3,654,155.00. Following the sale, the chairman now owns 8,583,787 shares in the company, valued at approximately $475,970,989.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Alfred P. West, Jr. sold 15,659 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $56.06, for a total value of $877,843.54. Following the transaction, the chairman now directly owns 8,568,128 shares of the company’s stock, valued at approximately $480,329,255.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 65,900 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $55.45, for a total value of $3,654,155.00. Following the completion of the transaction, the chairman now directly owns 8,583,787 shares in the company, valued at $475,970,989.15. The disclosure for this sale can be found here. Insiders have sold 118,021 shares of company stock worth $6,551,993 in the last 90 days. Insiders own 25.40% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $57.13 on Friday. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. The business’s 50 day moving average price is $57.55 and its two-hundred day moving average price is $59.48. SEI Investments has a fifty-two week low of $46.30 and a fifty-two week high of $64.69.

SEI Investments (NASDAQ:SEIC – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $469.12 million during the quarter, compared to analysts’ expectations of $468.79 million. SEI Investments had a return on equity of 22.29% and a net margin of 20.88%. The business’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. Sell-side analysts forecast that SEI Investments will post 3.38 earnings per share for the current year.

SEI Investments declared that its board has initiated a stock repurchase plan on Tuesday, April 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About SEI Investments

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SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.