Vanguard Group Inc. Sells 189,226 Shares of SEI Investments Company $SEIC

Vanguard Group Inc. decreased its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 11,071,365 shares of the asset manager’s stock after selling 189,226 shares during the quarter. Vanguard Group Inc. owned 0.09% of SEI Investments worth $908,073,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in shares of SEI Investments by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock valued at $2,656,000 after purchasing an additional 129 shares in the last quarter. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of SEI Investments by 0.5% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock valued at $2,533,000 after purchasing an additional 153 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SEI Investments by 10.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock valued at $140,000 after purchasing an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of SEI Investments by 2.3% during the 4th quarter. GAMMA Investing LLC now owns 7,260 shares of the asset manager’s stock valued at $595,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SEIC shares. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. UBS Group started coverage on shares of SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Finally, Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the transaction, the chairman owned 6,883,230 shares in the company, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Philip Mccabe sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the completion of the transaction, the insider owned 54,884 shares in the company, valued at approximately $5,039,448.88. This represents a 21.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 110,447 shares of company stock worth $9,324,799. Corporate insiders own 14.60% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $90.22 on Friday. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The business has a fifty day moving average price of $80.71 and a 200-day moving average price of $82.15. The company has a market capitalization of $10.85 billion, a PE ratio of 15.40 and a beta of 1.00.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, equities analysts expect that SEI Investments Company will post 5.9 EPS for the current fiscal year.

SEI Investments 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.