Horizon Investments LLC Lowers Stock Holdings in SEI Investments Company $SEIC

Horizon Investments LLC trimmed its position in SEI Investments Company (NASDAQ:SEIC) by 94.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,222 shares of the asset manager’s stock after selling 59,271 shares during the quarter. Horizon Investments LLC’s holdings in SEI Investments were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SEIC. Qube Research & Technologies Ltd lifted its holdings in shares of SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after buying an additional 346,696 shares in the last quarter. Caisse de depot et placement du Quebec lifted its holdings in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock worth $114,018,000 after buying an additional 317,703 shares in the last quarter. Prana Capital Management LP lifted its holdings in shares of SEI Investments by 60.8% in the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after buying an additional 269,023 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SEI Investments by 37.2% in the third quarter. Ameriprise Financial Inc. now owns 815,694 shares of the asset manager’s stock worth $69,206,000 after buying an additional 221,033 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of SEI Investments by 43.4% in the fourth quarter. UBS Group AG now owns 636,192 shares of the asset manager’s stock worth $52,180,000 after buying an additional 192,470 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the transaction, the insider directly owned 39,829 shares in the company, valued at $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total transaction of $4,412,650.00. Following the transaction, the chairman owned 6,883,230 shares in the company, valued at $552,241,542.90. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 120,447 shares of company stock valued at $10,235,499. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Stock Up 1.4%

SEIC stock opened at $91.18 on Friday. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $81.34 and its 200 day moving average is $82.34. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 15.56 and a beta of 1.00.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same period last year, the business earned $1.17 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that SEI Investments Company will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SEIC. Morgan Stanley lowered their price target on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. UBS Group began coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

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.