King Luther Capital Management Corp Buys 32,894 Shares of SEI Investments Company $SEIC

King Luther Capital Management Corp lifted its stake in SEI Investments Company (NASDAQ:SEIC) by 31.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,265 shares of the asset manager’s stock after acquiring an additional 32,894 shares during the period. King Luther Capital Management Corp owned 0.11% of SEI Investments worth $12,424,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SEI Investments in the second quarter worth $3,886,000. Aviva PLC grew its holdings in SEI Investments by 45.5% in the 2nd quarter. Aviva PLC now owns 11,550 shares of the asset manager’s stock valued at $1,038,000 after buying an additional 3,613 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of SEI Investments during the second quarter worth approximately $597,000. Claro Advisors LLC acquired a new stake in shares of SEI Investments in the second quarter worth $201,000. Finally, J. W. Coons Advisors LLC acquired a new position in SEI Investments during the 2nd quarter valued at $218,000. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SEIC. Morgan Stanley boosted their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Piper Sandler lowered their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Keefe, Bruyette & Woods lowered their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the transaction, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the sale, the director directly owned 75,641 shares in the company, valued at $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,000 shares of company stock worth $4,811,200. 14.60% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

SEI Investments stock opened at $82.92 on Monday. The business’s fifty day moving average is $84.40 and its two-hundred day moving average is $85.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The firm has a market cap of $10.15 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.22 and a beta of 0.96. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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. The business had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. Equities research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback plan on Friday, October 24th that permits the company to repurchase $650.00 million in 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 often a sign that the company’s board believes its shares are undervalued.

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.