SEI Investments (NASDAQ:SEIC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in SEI Investments (NASDAQ:SEIC) by 28.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,426 shares of the asset manager’s stock after selling 78,100 shares during the period. Renaissance Technologies LLC’s holdings in SEI Investments were worth $12,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in shares of SEI Investments in the 2nd quarter worth approximately $30,000. TFO Wealth Partners LLC boosted its holdings in shares of SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 565 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after acquiring an additional 386 shares during the period. Finally, Mather Group LLC. lifted its position in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s 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 transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,582 shares of company stock worth $8,942,405. 14.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler lowered their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.25.

SEI Investments Trading Down 1.6 %

SEI Investments stock opened at $68.10 on Monday. 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 $8.95 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. The company’s 50-day moving average price is $66.74 and its two-hundred day moving average price is $67.25.

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

About SEI Investments

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.