Algert Global LLC Has $4.03 Million Stake in SEI Investments (NASDAQ:SEIC)

Algert Global LLC decreased its stake in SEI Investments (NASDAQ:SEIC) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,300 shares of the asset manager’s stock after selling 8,793 shares during the quarter. Algert Global LLC’s holdings in SEI Investments were worth $4,030,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SEIC. Mackenzie Financial Corp boosted its stake in SEI Investments by 29.4% in the second quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock worth $766,000 after purchasing an additional 2,689 shares in the last quarter. MBB Public Markets I LLC acquired a new position in SEI Investments in the second quarter worth $614,000. AQR Capital Management LLC boosted its stake in SEI Investments by 12.6% in the second quarter. AQR Capital Management LLC now owns 367,089 shares of the asset manager’s stock worth $23,655,000 after purchasing an additional 41,108 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in SEI Investments by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after purchasing an additional 8,094 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in SEI Investments by 4.6% in the second quarter. Bank of Montreal Can now owns 125,035 shares of the asset manager’s stock worth $8,239,000 after purchasing an additional 5,445 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction dated 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 transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 over the last 90 days. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Down 0.1 %

Shares of SEIC opened at $69.19 on Tuesday. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The firm has a market capitalization of $9.09 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The stock’s fifty day simple moving average is $66.90 and its 200-day simple moving average is $67.24.

SEI Investments (NASDAQ:SEIC) last issued its quarterly 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. 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 analyst estimates of $523.80 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts anticipate that SEI Investments will post 4.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on SEIC. 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 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.25.

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.