Xponance Inc. Sells 1,724 Shares of SEI Investments (NASDAQ:SEIC)

Xponance Inc. lessened its position in shares of SEI Investments (NASDAQ:SEIC) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,403 shares of the asset manager’s stock after selling 1,724 shares during the period. Xponance Inc.’s holdings in SEI Investments were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SEIC. Fairfield Financial Advisors LTD bought a new position in SEI Investments in the second quarter valued at about $30,000. TFO Wealth Partners LLC boosted its stake in shares of SEI Investments by 6,277.8% in the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 565 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the last quarter. Bessemer Group Inc. increased its position in SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after purchasing an additional 386 shares in the last quarter. Finally, Mather Group LLC. lifted its stake 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. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a 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 for the company in a report on Thursday, July 25th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.25.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred 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 of the company’s stock, valued at $516,193,455.96. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock worth $8,942,405 over the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $69.28 on Friday. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The firm has a market cap of $9.00 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The firm’s fifty day moving average is $66.84 and its 200-day moving average is $67.26.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. Sell-side analysts forecast that SEI Investments will post 4.2 EPS for the current year.

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.