Los Angeles Capital Management LLC Has $6.34 Million Position in SEI Investments Company $SEIC

Los Angeles Capital Management LLC lessened its holdings in SEI Investments Company (NASDAQ:SEIC) by 62.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,500 shares of the asset manager’s stock after selling 115,916 shares during the period. Los Angeles Capital Management LLC’s holdings in SEI Investments were worth $6,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in shares of SEI Investments in the second quarter valued at $597,000. Claro Advisors LLC bought a new stake in shares of SEI Investments during the 2nd quarter worth about $201,000. J. W. Coons Advisors LLC bought a new stake in shares of SEI Investments during the 2nd quarter worth about $218,000. Simon Quick Advisors LLC acquired a new position in SEI Investments in the 2nd quarter valued at about $274,000. Finally, Strs Ohio raised its holdings in SEI Investments by 1.9% in the 2nd quarter. Strs Ohio now owns 30,411 shares of the asset manager’s stock valued at $2,733,000 after acquiring an additional 577 shares during the period. 70.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James Financial increased their price objective on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods lowered their price target on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Piper Sandler lowered their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Insider Activity

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director owned 16,042 shares in the company, valued at $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Hicke sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 55,000 shares of company stock worth $4,811,200. Insiders own 14.60% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $82.92 on Monday. The firm has a 50 day moving average of $84.40 and a 200-day moving average of $85.84. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $10.15 billion, a PE ratio of 15.24, a PEG ratio of 1.22 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. During the same period last year, the firm posted $1.19 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has initiated a share buyback program on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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.