Mackenzie Financial Corp Cuts Position in SEI Investments (NASDAQ:SEIC)

Mackenzie Financial Corp cut its stake in SEI Investments (NASDAQ:SEIC) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,722 shares of the asset manager’s stock after selling 833 shares during the quarter. Mackenzie Financial Corp’s holdings in SEI Investments were worth $618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gould Capital LLC increased its holdings in shares of SEI Investments by 1.3% in the 3rd quarter. Gould Capital LLC now owns 14,744 shares of the asset manager’s stock valued at $872,000 after acquiring an additional 195 shares during the period. VisionPoint Advisory Group LLC increased its holdings in shares of SEI Investments by 67.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the period. Fiera Capital Corp increased its holdings in shares of SEI Investments by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 8,215 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 215 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of SEI Investments by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 46,128 shares of the asset manager’s stock valued at $2,778,000 after acquiring an additional 235 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of SEI Investments by 2.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,866 shares of the asset manager’s stock valued at $715,000 after acquiring an additional 275 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at $557,852,005.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the sale, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the sale, the chairman now owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,333 shares of company stock valued at $14,481,612. Company insiders own 15.50% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $66.48 on Friday. The stock’s 50-day simple moving average is $68.56 and its 200-day simple moving average is $63.33. The firm has a market capitalization of $8.74 billion, a PE ratio of 18.16, a P/E/G ratio of 1.36 and a beta of 1.02. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $511.58 million for the quarter, compared to analyst estimates of $510.41 million. SEI Investments had a return on equity of 23.40% and a net margin of 24.80%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. Sell-side analysts forecast that SEI Investments will post 4.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Oppenheimer boosted their target price on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Piper Sandler dropped their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 target price (up from $72.00) on shares of SEI Investments in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.00.

SEI Investments 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.