American Century Companies Inc. Buys 62,470 Shares of SEI Investments (NASDAQ:SEIC)

American Century Companies Inc. boosted its stake in SEI Investments (NASDAQ:SEICFree Report) by 102.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,676 shares of the asset manager’s stock after purchasing an additional 62,470 shares during the quarter. American Century Companies Inc. owned about 0.09% of SEI Investments worth $7,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in SEI Investments by 4.0% in the third quarter. Raymond James & Associates now owns 474,836 shares of the asset manager’s stock valued at $28,599,000 after purchasing an additional 18,397 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of SEI Investments by 507.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 88,571 shares of the asset manager’s stock valued at $5,335,000 after buying an additional 73,987 shares in the last quarter. Barclays PLC increased its position in shares of SEI Investments by 76.2% in the 3rd quarter. Barclays PLC now owns 247,271 shares of the asset manager’s stock valued at $14,892,000 after buying an additional 106,967 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of SEI Investments by 18.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,200 shares of the asset manager’s stock valued at $5,553,000 after buying an additional 14,225 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of SEI Investments by 73.1% in the 3rd quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after buying an additional 475,226 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 3,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $67.31, for a total value of $201,930.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at $87,503. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Mark Andrew Warner sold 3,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $67.31, for a total value of $201,930.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at $87,503. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Sharma sold 15,000 shares of SEI Investments stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the transaction, the insider now owns 16,895 shares of the company’s stock, valued at $1,135,344. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,970 shares of company stock valued at $2,332,665. 15.50% of the stock is owned by corporate insiders.

SEI Investments Trading Up 0.8 %

SEI Investments stock opened at $70.62 on Tuesday. The company has a market cap of $9.28 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. SEI Investments has a 1-year low of $52.19 and a 1-year high of $71.24. The company has a fifty day simple moving average of $66.73 and a 200 day simple moving average of $61.98.

SEI Investments (NASDAQ:SEICGet Free Report) last released its earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. The business had revenue of $484.86 million during the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities research analysts forecast that SEI Investments will post 4 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a share repurchase program on Friday, December 15th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of SEI Investments from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Oppenheimer upped their price objective on SEI Investments from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, Morgan Stanley lifted their target price on SEI Investments from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.00.

Get Our Latest Stock Analysis on SEI Investments

About SEI Investments

(Free Report)

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.

See Also

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

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