ProShare Advisors LLC increased its position in shares of SEI Investments (NASDAQ:SEIC – Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 557,416 shares of the asset manager’s stock after buying an additional 5,906 shares during the quarter. ProShare Advisors LLC owned about 0.42% of SEI Investments worth $33,233,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of SEI Investments by 2.7% during the first quarter. BlackRock Inc. now owns 11,770,720 shares of the asset manager’s stock worth $677,405,000 after acquiring an additional 311,552 shares during the period. Morgan Stanley boosted its stake in shares of SEI Investments by 670.4% during the 4th quarter. Morgan Stanley now owns 6,519,582 shares of the asset manager’s stock worth $380,092,000 after acquiring an additional 5,673,374 shares in the last quarter. State Street Corp grew its holdings in shares of SEI Investments by 0.8% in the 3rd quarter. State Street Corp now owns 6,293,623 shares of the asset manager’s stock worth $308,702,000 after acquiring an additional 52,265 shares during the period. Royce & Associates LP increased its stake in SEI Investments by 0.8% in the 2nd quarter. Royce & Associates LP now owns 1,463,357 shares of the asset manager’s stock valued at $87,245,000 after purchasing an additional 10,909 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in SEI Investments by 3.0% during the first quarter. First Trust Advisors LP now owns 1,418,169 shares of the asset manager’s stock worth $85,388,000 after purchasing an additional 41,915 shares during the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.
SEI Investments Stock Up 0.5 %
SEIC opened at $58.28 on Tuesday. The firm’s 50 day moving average is $57.54 and its 200-day moving average is $59.25. SEI Investments has a 52-week low of $52.19 and a 52-week high of $64.69. The firm has a market capitalization of $7.67 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.43 and a beta of 1.01.
Insider Buying and Selling
In related news, major shareholder Sei Investments Co purchased 1,240,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were purchased at an average cost of $10.00 per share, with a total value of $12,400,000.00. Following the completion of the acquisition, the insider now directly owns 1,250,000 shares of the company’s stock, valued at approximately $12,500,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Dennis Mcgonigle sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $62.22, for a total value of $1,866,600.00. Following the completion of the sale, the chief financial officer now directly owns 594,163 shares in the company, valued at approximately $36,968,821.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sei Investments Co purchased 1,240,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $12,400,000.00. Following the completion of the transaction, the insider now owns 1,250,000 shares in the company, valued at approximately $12,500,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 127,000 shares of company stock worth $7,749,881. 15.50% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have recently weighed in on SEIC shares. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Piper Sandler reduced their price objective on SEI Investments from $64.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 26th. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Oppenheimer decreased their price target on SEI Investments from $71.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 5th. Finally, Morgan Stanley lowered their price objective on shares of SEI Investments from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $63.40.
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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