SEI Investments Company $SEIC Position Cut by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lessened its holdings in SEI Investments Company (NASDAQ:SEIC) by 55.9% during the 3rd quarter, Holdings Channel reports. The firm owned 659,526 shares of the asset manager’s stock after selling 835,158 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in SEI Investments were worth $67,706,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SEIC. BlackRock Inc. acquired a new position in shares of SEI Investments during the 2nd quarter worth approximately $870,745,000. Bank of America Corp DE purchased a new stake in SEI Investments in the 2nd quarter valued at approximately $255,067,000. Dimensional Fund Advisors LP grew its holdings in SEI Investments by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after buying an additional 20,054 shares during the last quarter. First Trust Advisors LP grew its holdings in SEI Investments by 1.2% during the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock valued at $143,025,000 after buying an additional 21,731 shares during the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in SEI Investments during the second quarter worth $87,924,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Up 3.1%

Shares of NASDAQ SEIC opened at $108.56 on Tuesday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $112.15. The firm’s 50 day moving average price is $105.48 and its 200 day moving average price is $93.50. The firm has a market cap of $12.87 billion, a P/E ratio of 18.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.23 and a current ratio of 4.31.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The company had revenue of $662.04 million during the quarter, compared to the consensus estimate of $656.25 million. During the same period in the previous year, the firm posted $1.30 EPS. SEI Investments’s revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that SEI Investments Company will post 6.31 earnings per share for the current year.

Insider Transactions at SEI Investments

In other news, Chairman Alfred West, Jr. sold 5,483 shares of SEI Investments stock in a transaction 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 sale, the chairman owned 6,784,574 shares of the company’s stock, valued at $699,896,653.84. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Hicke sold 37,500 shares of the company’s stock in a transaction 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 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 SEC filing for this sale provides additional information. Insiders have sold 73,777 shares of company stock worth $7,899,863 over the last quarter. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SEIC shares. Morgan Stanley boosted their price target on SEI Investments from $125.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. William Blair raised SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings raised shares of SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. Finally, Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of “Buy” and an average target price of $125.50.

About SEI Investments

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.