SEI Investments (NASDAQ:SEIC) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,663,869 shares of the asset manager’s stock after selling 1,351,040 shares during the period. Beutel Goodman & Co Ltd. owned approximately 2.07% of SEI Investments worth $219,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the 4th quarter valued at about $31,000. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after buying an additional 158 shares in the last quarter. First Horizon Advisors Inc. grew its position in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the third quarter valued at $45,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments during the 4th quarter valued at $55,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Trading Down 1.3 %

Shares of NASDAQ SEIC opened at $77.11 on Friday. The firm has a market capitalization of $9.79 billion, a PE ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business has a 50-day moving average price of $80.33 and a two-hundred day moving average price of $78.36.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has approved a stock buyback program on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SEIC shares. Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.00.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock worth $6,293,903 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments 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.