Short Interest in SEI Investments Company (NASDAQ:SEIC) Increases By 23.5%

SEI Investments Company (NASDAQ:SEIC) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,022,624 shares, a growth of 23.5% from the February 26th total of 1,638,172 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 999,700 shares, the days-to-cover ratio is presently 2.0 days.

SEI Investments Stock Up 1.6%

NASDAQ SEIC opened at $78.47 on Wednesday. The stock has a market capitalization of $9.59 billion, a P/E ratio of 13.94 and a beta of 0.96. SEI Investments has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The stock has a fifty day moving average of $81.40 and a 200-day moving average of $82.62.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. On average, equities research analysts forecast that SEI Investments will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Morgan Stanley raised their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $106.00 target price on shares of SEI Investments in a research note on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following the completion of the sale, the insider owned 921 shares of the company’s stock, valued at approximately $75,282.54. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 7,447 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the transaction, the chairman directly owned 6,875,783 shares in the company, valued at $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 146,447 shares of company stock valued at $12,318,659. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Root Financial Partners LLC acquired a new stake in shares of SEI Investments during the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. lifted its holdings in SEI Investments by 142.9% in the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after buying an additional 210 shares during the period. CoreFirst Bank & Trust bought a new position in SEI Investments in the second quarter valued at approximately $34,000. Community Bank N.A. bought a new position in SEI Investments in the third quarter valued at approximately $35,000. Finally, Allworth Financial LP grew its holdings in SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.