SEI Investments Company $SEIC Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. decreased its holdings in SEI Investments Company (NASDAQ:SEIC) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,082 shares of the asset manager’s stock after selling 129 shares during the quarter. Valley National Advisers Inc.’s holdings in SEI Investments were worth $366,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in SEIC. Geneos Wealth Management Inc. raised its holdings in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of SEI Investments in the second quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of SEI Investments by 252.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock worth $46,000 after purchasing an additional 363 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock worth $62,000 after purchasing an additional 225 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of SEI Investments by 104.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager’s stock worth $103,000 after purchasing an additional 681 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Saturday, September 27th. Raymond James Financial lifted their price objective on SEI Investments from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Finally, Piper Sandler cut their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Insider Transactions at SEI Investments

In related news, Director Carl Guarino sold 10,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This trade represents a 38.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at $15,122,258. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $5,254,950. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $85.35 on Tuesday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The firm’s 50-day simple moving average is $87.44 and its 200-day simple moving average is $84.26. The firm has a market cap of $10.55 billion, a P/E ratio of 16.01, a PEG ratio of 1.30 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. SEI Investments’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. Analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

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.