136,376 Shares in SEI Investments Company $SEIC Acquired by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 136,376 shares of the asset manager’s stock, valued at approximately $11,962,000.

Several other institutional investors also recently bought and sold shares of SEIC. Elevation Wealth Partners LLC increased its position in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC boosted its position in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. boosted its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in SEI Investments in the 1st quarter valued at $43,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

SEI Investments stock opened at $110.98 on Tuesday. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $112.15. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 19.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The firm’s fifty day moving average price is $100.50 and its 200 day moving average price is $89.90.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. On average, research analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SEIC. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Piper Sandler increased their target price on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, UBS Group reissued a “buy” rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the transaction, the insider owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the sale, the insider owned 54,884 shares of the company’s stock, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 142,332 shares of company stock valued at $13,745,813. Insiders own 4.80% of the company’s stock.

About SEI Investments

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.