Royal Capital Wealth Management LLC Decreases Stake in SEI Investments (NASDAQ:SEIC)

Royal Capital Wealth Management LLC lowered its position in shares of SEI Investments (NASDAQ:SEIC) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the asset manager’s stock after selling 200 shares during the period. Royal Capital Wealth Management LLC’s holdings in SEI Investments were worth $259,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of SEI Investments in the 2nd quarter valued at about $1,434,000. Mediolanum International Funds Ltd acquired a new stake in shares of SEI Investments in the first quarter valued at approximately $1,443,000. Norges Bank purchased a new position in shares of SEI Investments during the fourth quarter worth approximately $32,161,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SEI Investments by 20.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after acquiring an additional 10,670 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in SEI Investments by 21.7% during the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after purchasing an additional 20,533 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

SEI Investments Stock Down 0.0 %

Shares of SEIC stock opened at $68.79 on Wednesday. The stock has a market cap of $8.94 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.37 and a beta of 0.99. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The business has a fifty day simple moving average of $66.73 and a 200-day simple moving average of $67.25.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $518.99 million during 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 firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, sell-side analysts anticipate that SEI Investments will post 4.2 earnings per share for the current year.

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 on 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 transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on 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 of the company’s stock, valued at $505,488,637.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is owned by corporate insiders.

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.