Shelton Capital Management Sells 246 Shares of SEI Investments (NASDAQ:SEIC)

Shelton Capital Management cut its holdings in SEI Investments (NASDAQ:SEIC) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,026 shares of the asset manager’s stock after selling 246 shares during the period. Shelton Capital Management’s holdings in SEI Investments were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SEIC. Vestor Capital LLC purchased a new stake in shares of SEI Investments during the 2nd quarter valued at $82,000. Exchange Traded Concepts LLC bought a new stake in SEI Investments in the second quarter worth about $55,000. Industrial Alliance Investment Management Inc. purchased a new position in SEI Investments in the first quarter valued at about $77,000. Mendota Financial Group LLC grew its position in shares of SEI Investments by 25.6% during the 2nd quarter. Mendota Financial Group LLC now owns 1,468 shares of the asset manager’s stock valued at $88,000 after acquiring an additional 299 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of SEI Investments during the 1st quarter worth approximately $94,000. 69.64% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Up 0.5 %

Shares of NASDAQ SEIC opened at $58.28 on Tuesday. The business has a 50-day simple moving average of $57.54 and a two-hundred day simple moving average of $59.25. SEI Investments has a 52 week low of $52.19 and a 52 week high of $64.69. The company has a market cap of $7.67 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.43 and a beta of 1.01.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $476.80 million during the quarter, compared to analysts’ expectations of $482.52 million. SEI Investments had a net margin of 23.99% and a return on equity of 22.48%. SEI Investments’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Equities research analysts anticipate that SEI Investments will post 3.41 EPS for the current year.

Insider Activity

In other SEI Investments news, major shareholder Sei Investments Co acquired 1,240,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were bought at an average price of $10.00 per share, for a total transaction of $12,400,000.00. Following the completion of the transaction, the insider now owns 1,250,000 shares of the company’s stock, valued at approximately $12,500,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Sei Investments Co bought 1,240,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average cost of $10.00 per share, with a total value of $12,400,000.00. Following the completion of the purchase, the insider now directly owns 1,250,000 shares of the company’s stock, valued at approximately $12,500,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $61.29, for a total transaction of $1,532,250.00. Following the completion of the transaction, the executive vice president now directly owns 2,500 shares of the company’s stock, valued at approximately $153,225. The disclosure for this sale can be found here. Insiders sold 127,000 shares of company stock worth $7,749,881 in the last three months. Corporate insiders own 15.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler reduced their price objective on SEI Investments from $64.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Morgan Stanley reduced their target price on shares of SEI Investments from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, November 2nd. Finally, Oppenheimer dropped their price target on shares of SEI Investments from $71.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.40.

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.