18,269 SEI Investments Company $SEIC Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in SEI Investments Company (NASDAQ:SEIC) by 28.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 46,631 shares of the asset manager’s stock after selling 18,269 shares during the quarter. Vest Financial LLC’s holdings in SEI Investments were worth $4,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jupiter Topco LLC acquired a new position in SEI Investments during the 2nd quarter worth approximately $3,958,000. Oxbow Advisors LLC purchased a new position in SEI Investments in the 1st quarter worth approximately $3,283,000. Readystate Asset Management LP acquired a new stake in SEI Investments in the second quarter valued at approximately $1,649,000. Lazard Asset Management LLC grew its position in SEI Investments by 85.2% in the first quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock valued at $2,985,000 after acquiring an additional 17,504 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in SEI Investments in the first quarter valued at approximately $3,625,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

SEIC stock opened at $102.29 on Friday. The company has a quick ratio of 4.96, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $112.15. The stock’s 50 day moving average is $106.40 and its two-hundred day moving average is $96.96. The company has a market capitalization of $12.28 billion, a PE ratio of 17.79 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. The company had revenue of $662.04 million for the quarter, compared to analyst estimates of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. SEI Investments’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. Analysts predict that SEI Investments Company will post 6.30 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Lane sold 2,400 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the sale, the executive vice president directly owned 39,581 shares of the company’s stock, valued at $4,068,135.18. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 37,500 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the completion of the sale, the chief executive officer directly owned 192,815 shares in the company, valued at $21,346,548.65. This represents a 16.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 138,777 shares of company stock valued at $14,655,833. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group reissued a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Piper Sandler reaffirmed an “overweight” rating and set a $129.00 price target (up from $127.00) on shares of SEI Investments in a research note on Thursday. Weiss Ratings raised shares of SEI Investments from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Wells Fargo & Company initiated coverage on shares of SEI Investments in a report on Friday, October 2nd. They issued an “overweight” rating and a $129.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

SEI Investments Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.