Los Angeles Capital Management LLC Has $6.34 Million Stock Holdings in SEI Investments Company $SEIC

Los Angeles Capital Management LLC decreased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 62.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,500 shares of the asset manager’s stock after selling 115,916 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of SEI Investments worth $6,335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SEIC. Fox Run Management L.L.C. bought a new position in shares of SEI Investments during the second quarter worth $597,000. Claro Advisors LLC acquired a new stake in SEI Investments during the 2nd quarter worth $201,000. J. W. Coons Advisors LLC bought a new position in SEI Investments during the second quarter worth about $218,000. Simon Quick Advisors LLC acquired a new position in SEI Investments in the second quarter valued at about $274,000. Finally, Strs Ohio increased its holdings in shares of SEI Investments by 1.9% in the second quarter. Strs Ohio now owns 30,411 shares of the asset manager’s stock worth $2,733,000 after acquiring an additional 577 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.9%

Shares of NASDAQ:SEIC opened at $82.92 on Monday. The company’s 50-day moving average price is $84.40 and its two-hundred day moving average price is $85.84. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The stock has a market capitalization of $10.15 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same quarter in the previous year, the business earned $1.19 earnings per share. SEI Investments’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Friday, October 24th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SEIC shares. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Raymond James Financial lifted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Piper Sandler lowered their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and an average price target of $104.40.

Insiders Place Their Bets

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the sale, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares of the company’s stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,000 shares of company stock valued at $4,811,200 in the last 90 days. 14.60% of the stock is currently owned by insiders.

About SEI Investments

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.