The Manufacturers Life Insurance Company Takes $6.14 Million Position in SEI Investments Company $SEIC

The Manufacturers Life Insurance Company bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 70,000 shares of the asset manager’s stock, valued at approximately $6,140,000.

Several other hedge funds also recently bought and sold shares of SEIC. Elevation Wealth Partners LLC lifted its position in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC grew 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 worth $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC raised its stake in SEI Investments by 40.8% during the 1st 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. lifted its holdings in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, CX Institutional lifted its holdings in SEI Investments by 44.6% in the 2nd quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $111.63 on Monday. The firm has a market cap of $13.40 billion, a PE ratio of 19.69 and a beta of 0.96. The stock has a 50 day moving average of $100.09 and a 200 day moving average of $89.70. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, research analysts expect that SEI Investments Company will post 6.2 EPS for the current fiscal year.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the transaction, the insider owned 39,829 shares in the company, valued at $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the completion of the transaction, the insider directly owned 921 shares of the company’s stock, valued at $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 142,332 shares of company stock valued at $13,745,813 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SEIC. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Finally, Raymond James Financial lifted their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.60.

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.