Van ECK Associates Corp Raises Holdings in SEI Investments (NASDAQ:SEIC)

Van ECK Associates Corp lifted its position in SEI Investments (NASDAQ:SEIC) by 15.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,894 shares of the asset manager’s stock after buying an additional 7,535 shares during the period. Van ECK Associates Corp’s holdings in SEI Investments were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Foyston Gordon & Payne Inc boosted its stake in shares of SEI Investments by 1.0% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 82,102 shares of the asset manager’s stock worth $5,311,000 after buying an additional 791 shares during the last quarter. IFG Advisory LLC boosted its stake in shares of SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after buying an additional 166 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in SEI Investments by 15.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,843 shares of the asset manager’s stock worth $378,000 after purchasing an additional 764 shares during the period. iA Global Asset Management Inc. raised its holdings in SEI Investments by 28.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 18,659 shares of the asset manager’s stock worth $1,207,000 after purchasing an additional 4,111 shares during the period. Finally, Signaturefd LLC raised its holdings in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after purchasing an additional 213 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler decreased 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.25.

Insider Transactions at SEI Investments

In other news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now directly owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,582 shares of company stock valued at $9,277,605. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Down 0.5 %

NASDAQ:SEIC opened at $66.95 on Thursday. The business’s 50-day simple moving average is $66.32 and its two-hundred day simple moving average is $67.27. The stock has a market cap of $8.70 billion, a PE ratio of 18.29, a P/E/G 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 issued its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) 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 analysts’ expectations of $523.80 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 4.2 earnings per share for the current fiscal year.

SEI Investments 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.