SEI Investments Company $SEIC Stock Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its SEI Investments stake by 55.9% in the third quarter, selling 835,158 shares and retaining 659,526 shares valued at about $67.7 million.
• SEI reported quarterly EPS of $1.64, beating the $1.58 consensus, while revenue rose 14.4% year over year to $662 million.
• Analysts’ consensus rating is Buy, with an average price target of $125.50; company insiders sold 73,777 shares worth about $7.9 million over three months.

Beutel Goodman & Co Ltd. lowered its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 55.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 659,526 shares of the asset manager's stock after selling 835,158 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.56% of SEI Investments worth $67,706,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in shares of SEI Investments by 95.1% during the third quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager's stock worth $25,000 after acquiring an additional 117 shares during the period. Ashton Thomas Securities LLC raised its holdings in SEI Investments by 1.9% during the third quarter. Ashton Thomas Securities LLC now owns 6,190 shares of the asset manager's stock worth $635,000 after purchasing an additional 117 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in SEI Investments by 41.7% in the third quarter. Elevation Wealth Partners LLC now owns 438 shares of the asset manager's stock valued at $45,000 after purchasing an additional 129 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in SEI Investments by 7.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the asset manager's stock valued at $168,000 after purchasing an additional 133 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in SEI Investments by 1.2% in the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager's stock valued at $965,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 5,483 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total value of $565,626.28. Following the completion of the transaction, the chairman directly owned 6,784,574 shares of the company's stock, valued at $699,896,653.84. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the completion of the transaction, the chief executive officer directly owned 192,815 shares of the company's stock, valued at $21,346,548.65. The trade was a 16.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 73,777 shares of company stock worth $7,899,863. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SEIC. William Blair upgraded SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Piper Sandler reissued an "overweight" rating and set a $129.00 target price (up from $127.00) on shares of SEI Investments in a research note on Thursday, October 22nd. Morgan Stanley raised their price target on SEI Investments from $125.00 to $127.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $125.00 price objective on shares of SEI Investments in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $125.50.

SEI Investments Stock Up 3.1%

Shares of NASDAQ SEIC opened at $108.56 on Tuesday. The company has a quick ratio of 4.23, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The firm has a 50-day moving average price of $105.48 and a 200 day moving average price of $93.50. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 18.88 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million for the quarter, compared to the consensus estimate of $656.25 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm's revenue was up 14.4% on a year-over-year basis. Equities research analysts anticipate that SEI Investments Company will post 6.31 EPS for the current fiscal year.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services firm founded in 1968 by Alfred P. West Jr. The company provides technology, investment management and operational services to financial institutions and investors.

Its offerings include investment processing and administration, outsourced investment management, and technology platforms that support wealth managers, asset managers, financial institutions and institutional investors. SEI also provides investment solutions through its own asset management business.

Headquartered in Oaks, Pennsylvania, SEI serves clients in the United States and internationally, including in Europe and other global markets.

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