Jupiter Topco LLC purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 45,122 shares of the asset manager’s stock, valued at approximately $3,958,000.
Other large investors have also made changes to their positions in the company. Oxbow Advisors LLC bought a new stake in SEI Investments in the first quarter worth approximately $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of SEI Investments during the 4th quarter worth $3,217,000. Lazard Asset Management LLC raised its holdings in shares of SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 17,504 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of SEI Investments by 10.2% in the 4th quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock valued at $11,273,000 after purchasing an additional 12,713 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of SEI Investments in the 1st quarter valued at $3,625,000. Institutional investors own 70.59% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Piper Sandler increased their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and an average price target of $122.60.
Insider Buying and Selling at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman owned 6,825,783 shares in the company, valued at $595,549,566.75. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at $5,765,015.36. This trade represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 142,332 shares of company stock worth $13,745,813 in the last ninety days. 4.80% of the stock is owned by insiders.
SEI Investments Stock Performance
NASDAQ:SEIC opened at $109.54 on Wednesday. The firm has a market capitalization of $13.15 billion, a PE ratio of 19.32 and a beta of 0.97. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $112.15. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $100.89 and its 200 day simple moving average is $90.11.
SEI Investments (NASDAQ:SEIC – Get Free Report) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The firm had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, sell-side analysts anticipate that SEI Investments Company will post 6.2 EPS for the current year.
SEI Investments Company Profile
SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.
The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.
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