Legal & General Group Plc Makes New $11.96 Million Investment in SEI Investments Company $SEIC

Legal & General Group Plc purchased a new stake in SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 136,376 shares of the asset manager’s stock, valued at approximately $11,962,000. Legal & General Group Plc owned about 0.11% of SEI Investments at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SEIC. Elevation Wealth Partners LLC lifted its stake in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of SEI Investments by 60.2% in the first 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 last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of SEI Investments in the first quarter valued at $43,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

SEI Investments stock opened at $110.98 on Tuesday. The stock has a fifty day moving average price of $100.50 and a 200 day moving average price of $89.90. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The firm has a market capitalization of $13.32 billion, a P/E ratio of 19.57 and a beta of 0.96. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last issued its quarterly 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 firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period last year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SEIC. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Piper Sandler lifted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Finally, UBS Group reissued a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Six 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 stock currently has an average rating of “Moderate Buy” and an average target price of $122.60.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at approximately $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the transaction, the director directly owned 18,308 shares of the company’s stock, valued at $1,889,202.52. This trade represents a 35.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 142,332 shares of company stock valued at $13,745,813. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Company 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.