Swiss National Bank Buys New Stake in SEI Investments Company $SEIC

Swiss National Bank purchased a new stake in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 204,100 shares of the asset manager’s stock, valued at approximately $18,340,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cadence Bank lifted its position in shares of SEI Investments by 1.2% in the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock worth $819,000 after buying an additional 121 shares in the last quarter. Ethic Inc. raised its holdings in shares of SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after acquiring an additional 133 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 141 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of SEI Investments by 3.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 179 shares in the last quarter. Finally, Clark Capital Management Group Inc. raised its stake in 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 valued at $1,180,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the subject of several research reports. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Raymond James Financial upped their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. Morgan Stanley upped their price objective on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Trading Up 0.8%

Shares of SEIC opened at $80.83 on Thursday. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.22 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The company has a 50-day moving average of $82.65 and a 200 day moving average of $85.91.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period in the prior year, the firm earned $1.19 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a share buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the transaction, the director owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.60% of the stock is currently owned by corporate insiders.

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.