SEI Investments (NASDAQ:SEIC) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 8.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,900 shares of the asset manager’s stock after buying an additional 525 shares during the period. DekaBank Deutsche Girozentrale’s holdings in SEI Investments were worth $444,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TFO Wealth Partners LLC lifted 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 valued at $36,000 after acquiring an additional 565 shares during the period. Bessemer Group Inc. lifted 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 during the period. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 275 shares during the period. Mather Group LLC. boosted its holdings in 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 buying an additional 500 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in SEI Investments during the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $68.10 on Friday. The firm has a fifty day moving average of $66.72 and a 200 day moving average of $67.27. The firm has a market cap of $8.85 billion, a PE ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the previous year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that SEI Investments will post 4.2 EPS for the current fiscal year.

Insiders Place Their Bets

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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s 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 transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $335,200.00. Following the transaction, the director now owns 656,386 shares in the company, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. In the last three months, insiders sold 137,582 shares of company stock worth $9,277,605. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SEIC shares. Piper Sandler decreased their price objective 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SEI Investments has a consensus rating of “Hold” and a consensus target price of $71.25.

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.