Intech Investment Management LLC Has $434,000 Position in SEI Investments Company $SEIC

Intech Investment Management LLC lessened its stake in SEI Investments Company (NASDAQ:SEIC) by 67.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,830 shares of the asset manager’s stock after selling 10,058 shares during the period. Intech Investment Management LLC’s holdings in SEI Investments were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Cadence Bank raised its position in shares of SEI Investments by 1.2% during the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock worth $819,000 after acquiring an additional 121 shares during the last quarter. Ethic Inc. increased its position in SEI Investments by 3.0% in the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after purchasing an additional 133 shares during the period. Fifth Third Bancorp raised its holdings in SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after purchasing an additional 141 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in SEI Investments by 3.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 179 shares during the period. Finally, Clark Capital Management Group Inc. boosted its stake in shares of SEI Investments by 1.2% in the 1st quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock valued at $1,180,000 after purchasing an additional 183 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of recent research reports. Raymond James Financial boosted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Morgan Stanley upped their target price on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $104.40.

Insider Transactions at SEI Investments

In other 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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the sale, the director directly owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 14.60% of the company’s stock.

SEI Investments Trading Up 0.0%

Shares of NASDAQ SEIC opened at $80.87 on Friday. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.22 and a beta of 0.96. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $82.42 and its 200-day moving average is $85.87.

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

SEI Investments announced that its Board of Directors has approved a share repurchase program on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.