Commerce Bank Invests $935,000 in SEI Investments Company $SEIC

Commerce Bank bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 10,661 shares of the asset manager’s stock, valued at approximately $935,000.

Several other hedge funds have also modified their holdings of the stock. Elevation Wealth Partners LLC increased its stake in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares during the period. Root Financial Partners LLC lifted its stake in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of SEI Investments in the first quarter worth about $43,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Morgan Stanley upped their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Piper Sandler lifted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.60.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 50,000 shares of SEI Investments stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This trade represents a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the sale, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. This trade represents a 33.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 142,332 shares of company stock valued at $13,745,813 in the last three months. 4.80% of the stock is currently owned by insiders.

SEI Investments Trading Down 0.2%

NASDAQ:SEIC opened at $110.78 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $111.90. The stock’s 50-day moving average is $99.21 and its two-hundred day moving average is $89.32. The stock has a market cap of $13.30 billion, a PE ratio of 19.54 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The company had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. As a group, equities research analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.