Raymond James Trust N.A. lowered its holdings in SEI Investments (NASDAQ:SEIC – Get Rating) by 2.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,849 shares of the asset manager's stock after selling 199 shares during the quarter. Raymond James Trust N.A.'s holdings in SEI Investments were worth $478,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. bought a new stake in shares of SEI Investments in the 1st quarter worth approximately $36,000. Artemis Wealth Advisors LLC bought a new stake in shares of SEI Investments in the 1st quarter worth approximately $40,000. Quadrant Capital Group LLC lifted its position in shares of SEI Investments by 104.6% in the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager's stock worth $51,000 after acquiring an additional 431 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of SEI Investments in the 1st quarter worth approximately $60,000. Finally, Fifth Third Bancorp boosted its stake in SEI Investments by 23.6% in the 1st quarter. Fifth Third Bancorp now owns 1,445 shares of the asset manager's stock valued at $87,000 after buying an additional 276 shares in the last quarter. Institutional investors own 70.50% of the company's stock.
Get SEI Investments alerts:Wall Street Analysts Forecast Growth
SEIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. William Blair restated a "mkt perform" rating on shares of SEI Investments in a research report on Monday, July 25th. Piper Sandler dropped their price target on SEI Investments to $61.00 and set an "outperform" rating for the company in a report on Wednesday, July 27th. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research note on Friday, July 22nd. Finally, The Goldman Sachs Group cut their price target on SEI Investments to $58.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.50.
Insider Activity
In related news, major shareholder Alfred P. West, Jr. sold 83,386 shares of SEI Investments stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the completion of the sale, the insider now directly owns 9,136,792 shares of the company's stock, valued at $503,163,135.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 83,386 shares of the firm's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the transaction, the insider now owns 9,136,792 shares in the company, valued at $503,163,135.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dennis Mcgonigle sold 35,000 shares of the business's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the transaction, the insider now owns 576,663 shares of the company's stock, valued at $31,802,964.45. The disclosure for this sale can be found here. Insiders have sold a total of 133,386 shares of company stock valued at $7,359,017 in the last 90 days. 25.40% of the stock is owned by company insiders.SEI Investments Trading Down 1.0 %
SEI Investments stock opened at $50.99 on Tuesday. SEI Investments has a 1 year low of $50.63 and a 1 year high of $65.22. The company's 50-day moving average is $55.19 and its two-hundred day moving average is $56.03. The company has a market cap of $6.91 billion, a PE ratio of 12.23, a PEG ratio of 1.16 and a beta of 0.98.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business had revenue of $481.67 million during the quarter, compared to analyst estimates of $472.18 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company's quarterly revenue was up 1.3% on a year-over-year basis. Research analysts forecast that SEI Investments will post 3.71 EPS for the current year.
SEI Investments declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
SEI Investments Profile
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SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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