American Century Companies Inc. Purchases 21,632 Shares of SEI Investments (NASDAQ:SEIC)

American Century Companies Inc. boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,459 shares of the asset manager’s stock after acquiring an additional 21,632 shares during the period. American Century Companies Inc. owned approximately 0.24% of SEI Investments worth $20,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. IFG Advisory LLC lifted its holdings in shares of SEI Investments by 0.3% during the 2nd 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 lifted its stake in SEI Investments by 0.4% in 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 in the last quarter. Signaturefd LLC boosted 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 valued at $190,000 after buying an additional 213 shares during the period. Portside Wealth Group LLC increased its position in shares of SEI Investments by 5.3% during the second quarter. Portside Wealth Group LLC now owns 4,294 shares of the asset manager’s stock worth $278,000 after acquiring an additional 216 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its holdings in shares of 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 worth $1,924,000 after acquiring an additional 244 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other SEI Investments news, 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 sale, 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 is accessible through this hyperlink. In other news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. 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 stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,582 shares of company stock valued at $9,277,605. 14.30% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $69.18 on Friday. The company’s 50-day moving average price is $66.67 and its two-hundred day moving average price is $67.26. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock has a market capitalization of $8.99 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, beating 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, 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.