QRG Capital Management Inc. Takes Position in SEI Investments Company $SEIC

QRG Capital Management Inc. purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,349 shares of the asset manager’s stock, valued at approximately $211,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in SEI Investments by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock worth $134,487,000 after buying an additional 111,065 shares during the period. Boston Trust Walden Corp raised its stake in SEI Investments by 1.5% during the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager’s stock worth $102,897,000 after buying an additional 19,150 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SEI Investments by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock worth $62,186,000 after buying an additional 45,019 shares during the period. Millennium Management LLC raised its stake in SEI Investments by 339.3% during the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock worth $60,832,000 after buying an additional 605,252 shares during the period. Finally, Amundi raised its stake in SEI Investments by 228.2% during the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler dropped their price target on SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

SEI Investments Stock Performance

Shares of SEIC opened at $81.22 on Monday. The stock has a 50 day moving average price of $87.10 and a two-hundred day moving average price of $84.42. The firm has a market capitalization of $10.04 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.23 and a beta of 0.96. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 29.96% and a net margin of 31.25%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the transaction, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,000 shares of company stock valued at $5,254,950. Insiders own 14.30% of the company’s stock.

SEI Investments Profile

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.