Ensign Peak Advisors Inc Reduces Holdings in SEI Investments (NASDAQ:SEIC)

Ensign Peak Advisors Inc reduced its stake in SEI Investments (NASDAQ:SEIC) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,458 shares of the asset manager’s stock after selling 1,615 shares during the period. Ensign Peak Advisors Inc owned about 0.06% of SEI Investments worth $5,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new stake in SEI Investments during the 2nd quarter valued at $30,000. TFO Wealth Partners LLC raised its position in SEI Investments by 6,277.8% during 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 during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the period. Bessemer Group Inc. grew its position 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 buying an additional 386 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction that occurred on 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 sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,582 shares of company stock worth $8,942,405. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Down 0.3 %

Shares of SEIC stock opened at $68.55 on Thursday. The business’s fifty day moving average is $66.73 and its 200 day moving average is $67.26. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.37 and a beta of 0.99. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results 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%. SEI Investments’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Equities 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.