Mutual of America Capital Management LLC Sells 2,230 Shares of SEI Investments (NASDAQ:SEIC)

Mutual of America Capital Management LLC reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,172 shares of the asset manager’s stock after selling 2,230 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SEI Investments were worth $3,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after acquiring an additional 36,810 shares during the period. Hsbc Holdings PLC boosted its holdings in SEI Investments by 0.8% in the fourth quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock valued at $35,049,000 after acquiring an additional 4,212 shares during the last quarter. Raymond James & Associates increased its position in SEI Investments by 4.8% in the second quarter. Raymond James & Associates now owns 524,631 shares of the asset manager’s stock worth $33,938,000 after purchasing an additional 24,058 shares during the period. Finally, Norges Bank bought a new stake in SEI Investments during the 4th quarter worth about $32,161,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $71.25.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock valued at $8,942,405 over the last three months. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Trading Down 1.6 %

NASDAQ:SEIC opened at $68.10 on Monday. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. The business’s 50-day moving average price is $66.74 and its two-hundred day moving average price is $67.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. SEI Investments’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Sell-side analysts predict that SEI Investments will post 4.2 earnings per share for the current year.

About SEI Investments

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.