Amalgamated Bank cut its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,519 shares of the asset manager's stock after selling 2,892 shares during the period. Amalgamated Bank's holdings in SEI Investments were worth $4,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in SEIC. Hazlett Burt & Watson Inc. purchased a new position in SEI Investments during the first quarter worth approximately $36,000. Artemis Wealth Advisors LLC purchased a new position in SEI Investments during the first quarter worth approximately $40,000. Quadrant Capital Group LLC lifted its position in SEI Investments by 104.6% during the first quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager's stock worth $51,000 after buying an additional 431 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in SEI Investments during the first quarter worth approximately $60,000. Finally, Fifth Third Bancorp lifted its position in SEI Investments by 23.6% during the first quarter. Fifth Third Bancorp now owns 1,445 shares of the asset manager's stock worth $87,000 after buying an additional 276 shares in the last quarter. 70.50% of the stock is owned by institutional investors and hedge funds.
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Insider Activity
In other news, EVP Wayne Withrow sold 15,000 shares of SEI Investments stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the completion of the sale, the executive vice president now directly owns 38,799 shares of the company's stock, valued at $2,164,208.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Dennis Mcgonigle sold 35,000 shares of the business's stock in a transaction on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the transaction, the insider now directly owns 576,663 shares of the company's stock, valued at approximately $31,802,964.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wayne Withrow sold 15,000 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the transaction, the executive vice president now directly owns 38,799 shares of the company's stock, valued at $2,164,208.22. The disclosure for this sale can be found here. Insiders own 25.40% of the company's stock.
Wall Street Analysts Forecast Growth
SEIC has been the topic of a number of analyst reports. StockNews.com downgraded SEI Investments from a "buy" rating to a "hold" rating in a research report on Friday, July 22nd. The Goldman Sachs Group reduced their price objective on SEI Investments to $58.00 in a research report on Friday, July 22nd. Piper Sandler reduced their target price on SEI Investments to $61.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Morgan Stanley reduced their target price on SEI Investments from $55.00 to $52.00 and set an "underweight" rating on the stock in a research report on Thursday, July 21st. Finally, William Blair restated a "mkt perform" rating on shares of SEI Investments in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.50.
SEI Investments Stock Down 1.2 %
NASDAQ:SEIC opened at $53.41 on Wednesday. SEI Investments has a 52 week low of $51.07 and a 52 week high of $65.22. The stock's fifty day moving average is $55.24 and its two-hundred day moving average is $56.16. The company has a market capitalization of $7.24 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.22 and a beta of 0.98.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The firm had revenue of $481.67 million during the quarter, compared to analyst estimates of $472.18 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 3.71 earnings per share for the current fiscal year.
SEI Investments declared that its board has approved a stock buyback program on Wednesday, June 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
About SEI Investments
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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.
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