Federated Hermes Inc. Has $652,000 Stake in SEI Investments (NASDAQ:SEIC)

Federated Hermes Inc. reduced its holdings in SEI Investments (NASDAQ:SEIC) by 4.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,086 shares of the asset manager’s stock after selling 509 shares during the quarter. Federated Hermes Inc.’s holdings in SEI Investments were worth $652,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in SEI Investments by 8.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,900 shares of the asset manager’s stock valued at $444,000 after buying an additional 525 shares during the last quarter. BOKF NA boosted its position in shares of SEI Investments by 557.0% in the second quarter. BOKF NA now owns 12,083 shares of the asset manager’s stock valued at $782,000 after acquiring an additional 10,244 shares during the period. Achmea Investment Management B.V. grew its stake in shares of SEI Investments by 7.3% in the second quarter. Achmea Investment Management B.V. now owns 102,975 shares of the asset manager’s stock worth $6,661,000 after acquiring an additional 7,036 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in SEI Investments during the second quarter worth $7,787,000. Finally, American Century Companies Inc. raised its stake in SEI Investments by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 311,459 shares of the asset manager’s stock valued at $20,148,000 after purchasing an additional 21,632 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on 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 directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction dated 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 directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $505,488,637.60. The disclosure for this sale can be found here. Insiders sold 132,582 shares of company stock valued at $8,942,405 over the last quarter. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 1.6 %

Shares of NASDAQ SEIC opened at $68.10 on Monday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The business has a fifty day simple moving average of $66.74 and a 200 day simple moving average of $67.25. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last announced 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 during the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 4.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

SEI Investments Company 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.