Jupiter Asset Management Ltd. Acquires New Position in SEI Investments Company $SEIC

Jupiter Asset Management Ltd. bought a new position in SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 417,205 shares of the asset manager’s stock, valued at approximately $37,490,000. Jupiter Asset Management Ltd. owned 0.34% of SEI Investments as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new stake in shares of SEI Investments during the first quarter worth $51,773,000. Millennium Management LLC boosted its stake in SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock worth $60,832,000 after buying an additional 605,252 shares during the last quarter. Amundi grew its holdings in SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock valued at $57,472,000 after buying an additional 543,753 shares during the period. Azora Capital LP acquired a new position in shares of SEI Investments during the 1st quarter valued at about $28,852,000. Finally, Nuveen LLC purchased a new position in shares of SEI Investments during the 1st quarter worth about $21,407,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company’s 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 transaction, the director directly owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the sale, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at $15,122,258. The trade was a 16.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,000 shares of company stock worth $4,811,200 in the last 90 days. 14.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SEIC shares. Morgan Stanley upped their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Finally, Piper Sandler cut their price target 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

SEI Investments Stock Performance

Shares of SEIC stock opened at $83.55 on Wednesday. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The firm has a market capitalization of $10.23 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.22 and a beta of 0.96. The company’s fifty day moving average price is $84.20 and its two-hundred day moving average price is $85.90.

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

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are 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.