Northwestern Mutual Wealth Management Co. Acquires 168 Shares of SEI Investments (NASDAQ:SEIC)

Northwestern Mutual Wealth Management Co. raised its holdings in shares of SEI Investments (NASDAQ:SEIC) by 16.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,197 shares of the asset manager’s stock after acquiring an additional 168 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in SEI Investments were worth $77,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. IFG Advisory LLC boosted its stake in SEI Investments by 0.3% during the 2nd 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 grew its holdings in shares of SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares during the period. Signaturefd LLC increased 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 valued at $190,000 after buying an additional 213 shares in the last quarter. Portside Wealth Group LLC raised its stake in SEI Investments by 5.3% during the 2nd quarter. Portside Wealth Group LLC now owns 4,294 shares of the asset manager’s stock worth $278,000 after buying an additional 216 shares during the period. Finally, Chevy Chase Trust Holdings LLC lifted its holdings 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 acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer raised their price target on SEI Investments from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler lifted their price target on shares of SEI Investments from $71.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.25.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $70.10 on Friday. The firm has a market cap of $9.21 billion, a PE ratio of 19.15, a P/E/G ratio of 1.40 and a beta of 0.99. The business’s 50 day simple moving average is $67.44 and its 200 day simple moving average is $67.27. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The company had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. During the same period last year, the company earned $0.89 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 4.23 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments 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 sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction dated 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 completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 in the last three months. 14.30% of the stock is currently owned by corporate insiders.

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.