Davis R M Inc. lessened its holdings in SEI Investments (NASDAQ:SEIC – Free Report) by 35.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,298 shares of the asset manager’s stock after selling 20,493 shares during the quarter. Davis R M Inc.’s holdings in SEI Investments were worth $2,224,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vestor Capital LLC purchased a new stake in shares of SEI Investments in the 2nd quarter worth approximately $82,000. Exchange Traded Concepts LLC purchased a new stake in shares of SEI Investments in the second quarter worth $55,000. Industrial Alliance Investment Management Inc. bought a new position in shares of SEI Investments during the first quarter valued at $77,000. Mendota Financial Group LLC raised its position in shares of SEI Investments by 25.6% in the 2nd quarter. Mendota Financial Group LLC now owns 1,468 shares of the asset manager’s stock worth $88,000 after purchasing an additional 299 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in SEI Investments in the 1st quarter worth about $94,000. Institutional investors own 69.64% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Piper Sandler reduced their target price on SEI Investments from $64.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Morgan Stanley lowered their price target on SEI Investments from $61.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, November 2nd. Finally, Oppenheimer reduced their price objective on SEI Investments from $71.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.40.
SEI Investments Stock Up 0.5 %
Shares of SEIC opened at $58.28 on Tuesday. The business has a 50-day simple moving average of $57.54 and a two-hundred day simple moving average of $59.25. SEI Investments has a 52 week low of $52.19 and a 52 week high of $64.69. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.43 and a beta of 1.01.
SEI Investments (NASDAQ:SEIC – Get Free Report) last released its earnings results on Wednesday, October 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $476.80 million during the quarter, compared to analyst estimates of $482.52 million. SEI Investments had a net margin of 23.99% and a return on equity of 22.48%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, equities analysts anticipate that SEI Investments will post 3.41 earnings per share for the current fiscal year.
Insider Activity at SEI Investments
In other SEI Investments news, CFO Dennis Mcgonigle sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,866,600.00. Following the sale, the chief financial officer now directly owns 594,163 shares of the company’s stock, valued at $36,968,821.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Sei Investments Co bought 1,240,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was bought at an average cost of $10.00 per share, with a total value of $12,400,000.00. Following the completion of the purchase, the insider now owns 1,250,000 shares of the company’s stock, valued at approximately $12,500,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dennis Mcgonigle sold 30,000 shares of SEI Investments stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,866,600.00. Following the completion of the sale, the chief financial officer now owns 594,163 shares in the company, valued at $36,968,821.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,000 shares of company stock worth $7,749,881. 15.50% of the stock is owned by corporate insiders.
SEI Investments Company Profile
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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