Impact Partnership Wealth LLC Increases Stock Position in SEI Investments Company $SEIC

Impact Partnership Wealth LLC increased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 16.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,280 shares of the asset manager’s stock after buying an additional 598 shares during the quarter. Impact Partnership Wealth LLC’s holdings in SEI Investments were worth $385,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in SEI Investments during the second quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in SEI Investments by 252.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after buying an additional 363 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock valued at $62,000 after buying an additional 225 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in SEI Investments by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after buying an additional 141 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares of the company’s stock, valued at $15,122,258. This represents a 16.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,000 shares of company stock valued at $4,811,200 in the last 90 days. Company insiders own 14.60% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $80.80 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The firm’s 50-day moving average is $85.34 and its two-hundred day moving average is $85.24. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The company has a market capitalization of $9.89 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has authorized a stock repurchase plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

SEIC has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price target on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Raymond James Financial raised their price target on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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.