Procyon Advisors LLC Decreases Position in SEI Investments Company $SEIC

Procyon Advisors LLC lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 82.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,778 shares of the asset manager’s stock after selling 31,642 shares during the quarter. Procyon Advisors LLC’s holdings in SEI Investments were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SEIC. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager’s stock valued at $974,000 after purchasing an additional 4,701 shares during the period. LPL Financial LLC boosted its stake in shares of SEI Investments by 6.0% in the 1st quarter. LPL Financial LLC now owns 93,455 shares of the asset manager’s stock valued at $7,255,000 after buying an additional 5,291 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of SEI Investments during the first quarter worth about $206,000. FORA Capital LLC acquired a new position in shares of SEI Investments during the first quarter worth about $990,000. Finally, Deutsche Bank AG increased its stake in shares of SEI Investments by 41.9% during the first quarter. Deutsche Bank AG now owns 216,212 shares of the asset manager’s stock worth $16,785,000 after buying an additional 63,810 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Down 0.5%

SEI Investments stock opened at $86.25 on Friday. The stock has a 50 day moving average of $88.79 and a two-hundred day moving average of $83.26. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.31 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The business had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SEIC shares. Raymond James Financial lifted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Piper Sandler decreased their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Oppenheimer boosted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average price target of $102.00.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.