Caisse de depot et placement du Quebec Acquires New Stake in SEI Investments Company $SEIC

Caisse de depot et placement du Quebec bought a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,002,445 shares of the asset manager’s stock, valued at approximately $87,924,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in SEI Investments during the 2nd quarter valued at $870,745,000. Bank of America Corp DE lifted its holdings in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after buying an additional 133,057 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SEI Investments by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after buying an additional 109,974 shares during the period. Lord Abbett & CO. LLC boosted its stake in SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after buying an additional 308,988 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after buying an additional 20,054 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the transaction, the director owned 77,883 shares of the company’s stock, valued at approximately $8,063,226.99. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 142,332 shares of company stock worth $13,745,813 in the last three months. Insiders own 4.80% of the company’s stock.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $110.78 on Thursday. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 19.54 and a beta of 0.96. The stock’s fifty day simple moving average is $99.21 and its 200 day simple moving average is $89.32. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $111.90.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the firm earned $1.78 earnings per share. SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Raymond James Financial lifted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.