SEI Investments (NASDAQ:SEIC) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in SEI Investments (NASDAQ:SEIC) by 13.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,605 shares of the asset manager’s stock after selling 7,596 shares during the period. Amalgamated Bank’s holdings in SEI Investments were worth $3,274,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of SEI Investments in the 4th quarter worth $32,161,000. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after acquiring an additional 222,631 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in SEI Investments in the 1st quarter valued at about $14,172,000. Jupiter Asset Management Ltd. bought a new position in shares of SEI Investments during the 2nd quarter valued at about $7,787,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SEI Investments in the 4th quarter worth approximately $6,990,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction 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 approximately $505,488,637.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,582 shares of company stock valued at $8,942,405. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

SEI Investments stock opened at $68.81 on Tuesday. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The firm’s 50 day simple moving average is $66.75 and its 200-day simple moving average is $67.25. The company has a market cap of $9.04 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. The company 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%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. On average, analysts expect that SEI Investments will post 4.2 EPS for the current fiscal year.

SEI Investments 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.