Bank of Montreal Can Sells 11,508 Shares of SEI Investments (NASDAQ:SEIC)

Bank of Montreal Can cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 138,151 shares of the asset manager’s stock after selling 11,508 shares during the quarter. Bank of Montreal Can’s holdings in SEI Investments were worth $11,395,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP lifted its stake in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of SEI Investments during the 4th quarter worth about $55,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after purchasing an additional 172 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

SEIC opened at $72.38 on Friday. The stock has a fifty day moving average of $77.31 and a 200-day moving average of $78.72. The company has a market capitalization of $9.19 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SEIC. Piper Sandler reduced their price target on SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a report on Monday, April 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Oppenheimer raised their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and a consensus price target of $86.80.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % 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, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock worth $6,293,903. Company insiders own 14.30% of the company’s stock.

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.