Commerce Bank Purchases Shares of 10,661 SEI Investments Company $SEIC

Commerce Bank purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,661 shares of the asset manager’s stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SEIC. Elevation Wealth Partners LLC grew its holdings in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after buying an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC raised its stake in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares during the period. Finally, Western Wealth Management LLC acquired a new position in SEI Investments during the 1st quarter worth $43,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the sale, the chairman directly owned 6,825,783 shares in the company, valued at $595,549,566.75. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the sale, the insider directly owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 142,332 shares of company stock worth $13,745,813. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SEIC shares. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley increased their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, UBS Group reissued a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

SEI Investments Trading Down 0.2%

Shares of SEI Investments stock 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 firm has a market cap of $13.30 billion, a price-to-earnings ratio of 19.54 and a beta of 0.96. The business has a fifty day simple moving average of $99.21 and a 200-day simple moving average of $89.32. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two 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 for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. During the same quarter last year, the business posted $1.78 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Profile

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.