iSAM Funds UK Ltd Acquires New Shares in SEI Investments Company $SEIC

iSAM Funds UK Ltd acquired a new position in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,400 shares of the asset manager’s stock, valued at approximately $649,000.

Several other hedge funds have also recently bought and sold shares of SEIC. Bison Wealth LLC acquired a new stake in shares of SEI Investments in the fourth quarter worth about $207,000. Baird Financial Group Inc. acquired a new position in shares of SEI Investments during the 1st quarter valued at about $201,000. Geneos Wealth Management Inc. increased its holdings in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. M&T Bank Corp raised its stake in shares of SEI Investments by 11.9% in the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 341 shares in the last quarter. Finally, CW Advisors LLC bought a new position in shares of SEI Investments in the 2nd quarter valued at approximately $280,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Down 0.4%

Shares of SEIC stock opened at $109.12 on Thursday. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15. The firm has a market cap of $13.10 billion, a PE ratio of 19.25 and a beta of 0.97. The stock has a 50 day moving average of $101.29 and a 200-day moving average of $90.33. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter last year, the company posted $1.78 earnings per share. SEI Investments’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts predict that SEI Investments Company will post 6.2 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SEIC shares. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Piper Sandler upped their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SEI Investments presently has a consensus 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 the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the sale, the chairman directly owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Sharma sold 20,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the sale, the insider owned 39,829 shares in the company, valued at $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 142,332 shares of company stock worth $13,745,813. Corporate insiders own 4.80% of the company’s stock.

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.