SEI Investments (NASDAQ:SEIC) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

SEI Investments Company (NASDAQ:SEIC – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $112.15 and last traded at $111.59, with a volume of 660725 shares traded. The stock had previously closed at $111.63.

Wall Street Analyst Weigh In

SEIC has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Morgan Stanley upped their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Six 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.60.

Get Our Latest Stock Report on SEI Investments

SEI Investments Trading Down 0.4%

The company has a market capitalization of $13.31 billion, a P/E ratio of 19.49 and a beta of 0.96. The company has a 50-day simple moving average of $100.09 and a 200 day simple moving average of $89.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06.

SEI Investments (NASDAQ:SEIC – Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 earnings per share. Sell-side analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 15,000 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 921 shares in the company, valued at $94,264.35. This trade represents a 94.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the transaction, the director owned 77,883 shares in the company, valued at approximately $8,063,226.99. The trade was a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 142,332 shares of company stock worth $13,745,813. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Several large investors have recently added to or reduced their stakes in SEIC. Elevation Wealth Partners LLC lifted its position in shares of 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 acquiring an additional 152 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC increased its position in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. raised its stake 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 valued at $41,000 after purchasing an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of SEI Investments in the first quarter valued at $43,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Company Profile

(Get Free Report)

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.

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