Oppenheimer Asset Management Inc. Buys 768 Shares of SEI Investments (NASDAQ:SEIC)

Oppenheimer Asset Management Inc. grew its stake in shares of SEI Investments (NASDAQ:SEIC) by 4.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,982 shares of the asset manager’s stock after buying an additional 768 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SEI Investments were worth $1,244,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after purchasing an additional 20,533 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of SEI Investments by 20.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after buying an additional 10,670 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in SEI Investments by 67.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after buying an additional 58,808 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in SEI Investments by 7.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 24,017 shares of the asset manager’s stock worth $1,727,000 after buying an additional 1,587 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in SEI Investments by 400.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,919 shares of the asset manager’s stock worth $1,648,000 after acquiring an additional 18,342 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Down 1.6 %

Shares of SEIC opened at $80.23 on Monday. The firm’s fifty day simple moving average is $72.36 and its two-hundred day simple moving average is $68.60. SEI Investments has a 12 month low of $57.43 and a 12 month high of $81.97. The stock has a market capitalization of $10.34 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. As a group, research analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

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

Insider Transactions at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the transaction, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,646 shares of company stock valued at $14,115,934 in the last quarter. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.