Tredje AP fonden Reduces Stock Position in SEI Investments (NASDAQ:SEIC)

Tredje AP fonden decreased its position in SEI Investments (NASDAQ:SEIC) by 1.6% during the second quarter, Holdings Channel.com reports. The fund owned 16,853 shares of the asset manager’s stock after selling 275 shares during the quarter. Tredje AP fonden’s holdings in SEI Investments were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IFG Advisory LLC increased its holdings in SEI Investments by 0.3% during the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after purchasing an additional 166 shares during the period. Diversified Trust Co lifted its holdings in SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after buying an additional 202 shares during the period. Signaturefd LLC grew its position in shares of SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after buying an additional 213 shares during the last quarter. Portside Wealth Group LLC increased its stake in shares of SEI Investments by 5.3% during the second quarter. Portside Wealth Group LLC now owns 4,294 shares of the asset manager’s stock valued at $278,000 after buying an additional 216 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of SEI Investments by 0.9% during the first quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock valued at $1,924,000 after buying an additional 244 shares during the period. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SEIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler cut their target price on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.25.

SEI Investments Stock Down 1.6 %

SEIC opened at $68.10 on Friday. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The stock has a market cap of $8.85 billion, a PE ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. The business has a 50 day moving average of $66.72 and a 200-day moving average of $67.27.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. Equities analysts anticipate that SEI Investments will post 4.2 EPS for the current year.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders have sold 137,582 shares of company stock valued at $9,277,605 over the last quarter. Corporate insiders own 14.30% of the company’s stock.

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.