SEI Investments (NASDAQ:SEIC) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its stake in shares of SEI Investments (NASDAQ:SEIC) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 125,035 shares of the asset manager’s stock after acquiring an additional 5,445 shares during the quarter. Bank of Montreal Can’s holdings in SEI Investments were worth $8,239,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at approximately $505,488,637.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock worth $8,942,405 over the last quarter. 14.30% of the stock is owned by corporate insiders.

SEI Investments Price Performance

SEI Investments stock opened at $69.19 on Tuesday. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The stock’s 50-day moving average is $66.90 and its 200-day moving average is $67.24.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $518.99 million during 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. Research analysts anticipate 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.