Amalgamated Bank Decreases Stock Holdings in SEI Investments (NASDAQ:SEIC)

Amalgamated Bank reduced its stake in shares of SEI Investments (NASDAQ:SEICGet Rating) by 3.6% in the first quarter, according to its most recent 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 quarter. Amalgamated Bank owned approximately 0.06% of SEI Investments worth $4,607,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new stake in shares of SEI Investments during the 1st quarter worth $36,000. Artemis Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the 1st quarter worth $40,000. Quadrant Capital Group LLC lifted its stake in shares of SEI Investments by 104.6% during the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after purchasing an additional 431 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the 1st quarter worth $60,000. Finally, Fifth Third Bancorp lifted its stake in shares of SEI Investments by 23.6% during the 1st quarter. Fifth Third Bancorp now owns 1,445 shares of the asset manager’s stock worth $87,000 after purchasing an additional 276 shares during the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on SEI Investments to $58.00 in a research note on Friday, July 22nd. William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. Piper Sandler decreased their price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.50.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 38,799 shares in the company, valued at $2,164,208.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Wayne Withrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total transaction of $836,700.00. Following the sale, the executive vice president now directly owns 38,799 shares of the company’s stock, valued at $2,164,208.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Mcgonigle sold 35,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the sale, the insider now directly owns 576,663 shares in the company, valued at $31,802,964.45. The disclosure for this sale can be found here. Company insiders own 25.40% of the company’s stock.

SEI Investments Stock Down 1.2 %

Shares of 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 has a market cap of $7.24 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.22 and a beta of 0.98. The business has a 50-day moving average price of $55.24 and a 200-day moving average price of $56.16.

SEI Investments (NASDAQ:SEICGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The firm had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that SEI Investments will post 3.71 EPS for the current fiscal year.

SEI Investments announced that its board has approved a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Profile

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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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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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