Tredje AP fonden Reduces Stock Position in SEI Investments (NASDAQ:SEIC)

Tredje AP fonden trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,853 shares of the asset manager’s stock after selling 275 shares during the period. Tredje AP fonden’s holdings in SEI Investments were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFG Advisory LLC grew its position in shares of SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after purchasing an additional 166 shares in the last quarter. Diversified Trust Co increased its position in shares of SEI Investments by 0.4% during the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares during the period. Signaturefd LLC lifted its holdings in shares of SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after buying an additional 213 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of SEI Investments by 5.3% in the second quarter. Portside Wealth Group LLC now owns 4,294 shares of the asset manager’s stock valued at $278,000 after acquiring an additional 216 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its stake in SEI Investments by 0.9% during the first quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock valued at $1,924,000 after acquiring an additional 244 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $68.10 on Friday. The company’s fifty day moving average price is $66.72 and its 200-day moving average price is $67.27. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that SEI Investments will post 4.2 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SEIC shares. Piper Sandler lowered 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 reiterated a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.25.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments 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 transaction, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,582 shares of company stock valued at $9,277,605. 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.