Y Intercept Hong Kong Ltd Buys Shares of 3,585 SEI Investments Company $SEIC

Y Intercept Hong Kong Ltd purchased a new position in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,585 shares of the asset manager’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. increased its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of SEI Investments during the 2nd quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of SEI Investments by 252.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock worth $46,000 after purchasing an additional 363 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager’s stock worth $106,000 after buying an additional 1,282 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after buying an additional 141 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Trading Up 0.9%

SEIC stock opened at $82.92 on Friday. 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 has a market cap of $10.15 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.22 and a beta of 0.96. The business has a fifty day simple moving average of $84.40 and a 200-day simple moving average of $85.65. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results 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. The firm had revenue of $578.51 million during 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. On average, equities research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares in the company, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares of the company’s stock, valued at $1,386,189.22. The trade was a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 55,000 shares of company stock worth $4,811,200. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Raymond James Financial lifted their price objective on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Piper Sandler dropped their target price on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

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.