SEI Investments Company $SEIC Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lowered its holdings in SEI Investments Company (NASDAQ:SEIC) by 1.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,952 shares of the asset manager’s stock after selling 403 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in SEI Investments were worth $1,883,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in SEI Investments by 59.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager’s stock worth $974,000 after purchasing an additional 4,701 shares during the period. LPL Financial LLC raised its holdings 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 purchasing an additional 5,291 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in SEI Investments in the first quarter valued at $206,000. FORA Capital LLC acquired a new position in shares of SEI Investments during the 1st quarter worth about $990,000. Finally, Deutsche Bank AG lifted its stake in 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 purchasing an additional 63,810 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at approximately $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock valued at $5,254,950 in the last 90 days. Insiders own 14.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SEIC. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Piper Sandler reduced their price objective on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Raymond James Financial increased their target price 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. Finally, Oppenheimer lifted their target price on SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average target price of $105.00.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $84.86 on Friday. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.27 and a beta of 0.97. The stock has a fifty day moving average price of $87.59 and a two-hundred day moving average price of $84.01.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to analysts’ expectations of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

About SEI Investments

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.