SEI Investments (NASDAQ:SEIC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its position in SEI Investments (NASDAQ:SEIC) by 597.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,217 shares of the asset manager’s stock after buying an additional 18,175 shares during the quarter. Intech Investment Management LLC’s holdings in SEI Investments were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SEIC. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments during the 2nd quarter worth approximately $30,000. TFO Wealth Partners LLC increased its position in shares of SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after acquiring an additional 565 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Bessemer Group Inc. boosted its holdings in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. grew its stake in SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $68.79 on Wednesday. The business has a 50-day moving average of $66.73 and a two-hundred day moving average of $67.25. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54.

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, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, equities research analysts expect that SEI Investments will post 4.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SEIC shares. Piper Sandler reduced their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down previously 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of “Hold” and a consensus price target of $71.25.

Insider Activity

In related 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 132,582 shares of company stock worth $8,942,405. Corporate insiders own 14.30% of the company’s stock.

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.