SEI Investments (NASDAQ:SEIC) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in shares of SEI Investments (NASDAQ:SEIC) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,145 shares of the asset manager’s stock after selling 6,186 shares during the quarter. Truist Financial Corp owned approximately 0.11% of SEI Investments worth $9,131,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD bought a new stake in shares of SEI Investments in the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its position in shares of SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares in the last quarter. Mather Group LLC. lifted its position in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in SEI Investments in the fourth quarter worth about $61,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. 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 in the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 0.2 %

NASDAQ:SEIC opened at $69.48 on Friday. The firm has a market capitalization of $9.02 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The stock has a 50 day moving average of $67.11 and a 200-day moving average of $67.28.

SEI Investments (NASDAQ:SEIC) last issued 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. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same period last year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts predict that SEI Investments will post 4.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SEIC. Piper Sandler cut their price objective on 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 reissued a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.25.

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.