SEI Investments Company $SEIC Shares Sold by Ascent Group LLC

Ascent Group LLC lowered its stake in SEI Investments Company (NASDAQ:SEIC) by 6.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 46,015 shares of the asset manager’s stock after selling 3,091 shares during the quarter. Ascent Group LLC’s holdings in SEI Investments were worth $4,135,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Cadence Bank lifted its position in SEI Investments by 1.2% in the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after buying an additional 121 shares during the last quarter. Fifth Third Bancorp lifted its position in SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after buying an additional 141 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of SEI Investments by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock worth $435,000 after purchasing an additional 160 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in shares of SEI Investments by 1.2% during the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock worth $1,180,000 after purchasing an additional 183 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of SEI Investments by 8.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager’s stock worth $208,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the topic of several research reports. Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Saturday, September 27th. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Finally, Morgan Stanley increased their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,000 shares of company stock valued at $5,254,950. Company insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $85.62 on Friday. The company’s 50 day moving average price is $87.50 and its 200 day moving average price is $84.08. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.29 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that SEI Investments Company will post 4.86 EPS 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.