Short Interest in SEI Investments Company (NASDAQ:SEIC) Expands By 23.5%

SEI Investments Company (NASDAQ:SEIC) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 2,022,624 shares, a growth of 23.5% from the February 26th total of 1,638,172 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 999,700 shares, the days-to-cover ratio is presently 2.0 days.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,447 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total transaction of $590,249.22. Following the completion of the transaction, the chairman directly owned 6,875,783 shares in the company, valued at $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the sale, the chief executive officer owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 146,447 shares of company stock valued at $12,318,659. Company insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in SEI Investments during the 3rd quarter worth about $28,000. SJS Investment Consulting Inc. lifted its stake in shares of SEI Investments by 142.9% in the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock worth $30,000 after acquiring an additional 210 shares during the period. CoreFirst Bank & Trust bought a new stake in SEI Investments in the second quarter valued at approximately $34,000. Community Bank N.A. bought a new stake in SEI Investments in the third quarter valued at approximately $35,000. Finally, Allworth Financial LP increased its position in SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Up 1.9%

Shares of SEI Investments stock traded up $1.46 on Tuesday, hitting $78.67. The stock had a trading volume of 470,413 shares, compared to its average volume of 776,488. The stock has a 50 day moving average of $81.51 and a 200 day moving average of $82.68. The firm has a market capitalization of $9.62 billion, a P/E ratio of 13.97 and a beta of 0.96. SEI Investments has a twelve month low of $64.66 and a twelve month high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The business had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SEIC shares. Morgan Stanley boosted their price target on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $106.00 price objective on shares of SEI Investments in a research note on Friday, February 20th. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Finally, UBS Group began coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.67.

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.