Crossmark Global Holdings Inc. Sells 185 Shares of SEI Investments (NASDAQ:SEIC)

Crossmark Global Holdings Inc. decreased its stake in shares of SEI Investments (NASDAQ:SEIC) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,410 shares of the asset manager’s stock after selling 185 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in SEI Investments were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. TFO Wealth Partners LLC grew its holdings in SEI Investments by 6,277.8% in the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after purchasing an additional 565 shares during the period. Bessemer Group Inc. grew 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 buying an additional 386 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 valued at $41,000 after buying an additional 275 shares during the period. Mather Group LLC. increased its position in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in SEI Investments by 32.6% during the 1st quarter. Global Retirement Partners LLC now owns 948 shares of the asset manager’s stock worth $68,000 after buying an additional 233 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler reduced their price target on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.25.

SEI Investments Stock Performance

SEIC stock opened at $67.63 on Monday. The business has a 50-day simple moving average of $66.22 and a two-hundred day simple moving average of $67.25. The company has a market capitalization of $8.78 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54.

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 analysts’ expectations of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. SEI Investments’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts forecast that SEI Investments will post 4.2 earnings per share for the current fiscal year.

Insider Transactions at SEI Investments

In related news, 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 of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction 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 sale, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. The disclosure for this sale can be found here. Insiders sold a total of 137,582 shares of company stock worth $9,277,605 in the last quarter. 14.30% of the stock is currently 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.