Short Interest in SEI Investments (NASDAQ:SEIC) Expands By 29.6%

SEI Investments (NASDAQ:SEIC) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 2,060,000 shares, an increase of 29.6% from the February 13th total of 1,590,000 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 668,100 shares, the days-to-cover ratio is presently 3.1 days.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. 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 79,214 shares of company stock valued at $6,293,903 over the last quarter. 14.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $31,000. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Allworth Financial LP lifted its position in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after buying an additional 158 shares during the last quarter. Point72 DIFC Ltd acquired a new position in SEI Investments in the third quarter valued at approximately $45,000. Finally, Rialto Wealth Management LLC acquired a new position in SEI Investments during the 4th quarter valued at approximately $55,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

SEIC traded down $0.05 during trading on Tuesday, hitting $74.91. The stock had a trading volume of 471,014 shares, compared to its average volume of 597,876. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company’s 50-day moving average price is $81.11 and its 200 day moving average price is $77.88. The firm has a market capitalization of $9.51 billion, a P/E ratio of 16.96, a PEG ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, equities analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SEIC. Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Finally, Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.00.

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.