Fiera Capital Corp Acquires New Shares in SEI Investments (NASDAQ:SEIC)

Fiera Capital Corp bought a new position in SEI Investments (NASDAQ:SEIC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,000 shares of the asset manager’s stock, valued at approximately $477,000.

Several other large investors have also recently bought and sold shares of SEIC. American Century Companies Inc. lifted its holdings in shares of SEI Investments by 19.8% during the first quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock worth $1,337,000 after purchasing an additional 3,666 shares during the period. Private Advisor Group LLC grew its position in shares of SEI Investments by 15.3% in the 1st quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock valued at $290,000 after buying an additional 639 shares during the last quarter. Bank of Montreal Can increased its stake in shares of SEI Investments by 18.5% in the first quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock valued at $6,230,000 after buying an additional 15,773 shares during the period. Panagora Asset Management Inc. raised its position in shares of SEI Investments by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock worth $1,151,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of SEI Investments by 9.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock worth $2,322,000 after acquiring an additional 3,424 shares during the last quarter. 69.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SEIC shares. Morgan Stanley decreased their target price on shares of SEI Investments from $61.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, November 2nd. Piper Sandler lowered their target price on shares of SEI Investments from $64.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Oppenheimer cut their price target on shares of SEI Investments from $71.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 5th. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods upped their target price on SEI Investments from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $63.40.

SEI Investments Price Performance

SEIC stock opened at $58.30 on Friday. The company’s 50-day moving average is $57.67 and its 200-day moving average is $59.24. The stock has a market capitalization of $7.67 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. SEI Investments has a 1 year low of $52.19 and a 1 year high of $64.69.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $476.80 million for the quarter, compared to analyst estimates of $482.52 million. SEI Investments had a return on equity of 22.48% and a net margin of 23.99%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, analysts anticipate that SEI Investments will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SEI Investments news, major shareholder Sei Investments Co purchased 1,240,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was acquired at an average price of $10.00 per share, for a total transaction of $12,400,000.00. Following the purchase, the insider now owns 1,250,000 shares of the company’s stock, valued at approximately $12,500,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Sei Investments Co purchased 1,240,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was acquired at an average price of $10.00 per share, for a total transaction of $12,400,000.00. Following the purchase, the insider now owns 1,250,000 shares of the company’s stock, valued at $12,500,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $61.29, for a total value of $1,532,250.00. Following the completion of the sale, the executive vice president now directly owns 2,500 shares of the company’s stock, valued at $153,225. The disclosure for this sale can be found here. Insiders have sold a total of 127,000 shares of company stock worth $7,749,881 in the last ninety days. Corporate insiders own 15.50% of the company’s stock.

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.