SEI Investments Company $SEIC Stock Position Lowered by Vest Financial LLC

Vest Financial LLC cut its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 28.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,631 shares of the asset manager’s stock after selling 18,269 shares during the quarter. Vest Financial LLC’s holdings in SEI Investments were worth $4,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of SEI Investments in the 2nd quarter worth $870,745,000. Bank of America Corp DE purchased a new position in SEI Investments during the second quarter worth about $255,067,000. Caisse de depot et placement du Quebec purchased a new position in SEI Investments during the second quarter worth about $87,924,000. Bank of New York Mellon Corp acquired a new stake in SEI Investments in the second quarter valued at about $78,430,000. Finally, American Capital Management Inc. acquired a new stake in SEI Investments in the second quarter valued at about $65,372,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $102.29 on Friday. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 17.79 and a beta of 0.97. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The company’s 50-day moving average price is $106.40 and its 200 day moving average price is $96.96. The company has a current ratio of 4.31, a quick ratio of 4.96 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million during the quarter, compared to the consensus estimate of $656.25 million. During the same period last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, research analysts forecast that SEI Investments Company will post 6.30 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 28,394 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $103.40, for a total transaction of $2,935,939.60. Following the transaction, the chairman directly owned 6,790,057 shares in the company, valued at approximately $702,091,893.80. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip McCabe sold 24,957 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,765,015.36. The trade was a 31.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 138,777 shares of company stock worth $14,655,833 in the last three months. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports 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 research report on Thursday, July 23rd. Morgan Stanley increased their target price on SEI Investments from $125.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday. Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Finally, William Blair raised SEI Investments from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.