SEI Investments Company $SEIC Holdings Increased by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 83.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,739 shares of the asset manager’s stock after purchasing an additional 5,329 shares during the quarter. Simplicity Wealth LLC’s holdings in SEI Investments were worth $1,205,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of SEI Investments in the 2nd quarter worth about $870,745,000. Bank of America Corp DE bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $255,067,000. Caisse de depot et placement du Quebec bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $87,924,000. Bank of New York Mellon Corp bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $78,430,000. Finally, American Capital Management Inc. purchased a new position in shares of SEI Investments during the second quarter valued at about $65,372,000. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SEIC. Piper Sandler reissued an “overweight” rating and issued a $129.00 price target (up from $127.00) on shares of SEI Investments in a research note on Thursday, October 22nd. William Blair raised SEI Investments from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. UBS Group reiterated a “buy” rating and set a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Buy” and an average price target of $125.50.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,483 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total value of $565,626.28. Following the transaction, the chairman owned 6,784,574 shares of the company’s stock, valued at $699,896,653.84. This trade represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Lane sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the transaction, the executive vice president owned 39,581 shares of the company’s stock, valued at approximately $4,068,135.18. This trade represents a 5.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 113,777 shares of company stock worth $12,088,683 over the last three months. 4.80% of the stock is currently owned by insiders.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $102.88 on Wednesday. The firm has a market cap of $12.35 billion, a P/E ratio of 17.89 and a beta of 0.97. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15. The firm has a 50-day simple moving average of $106.21 and a two-hundred day simple moving average of $92.61.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.06. The business had revenue of $662.04 million during the quarter, compared to analysts’ expectations of $656.25 million. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that SEI Investments Company will post 6.31 EPS for the current year.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.