Bayforest Capital Ltd Sells 3,794 Shares of SEI Investments Company $SEIC

Bayforest Capital Ltd decreased its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 37.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,227 shares of the asset manager’s stock after selling 3,794 shares during the quarter. Bayforest Capital Ltd’s holdings in SEI Investments were worth $560,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Boston Trust Walden Corp increased its holdings in shares of SEI Investments by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock worth $123,079,000 after purchasing an additional 44,195 shares during the period. Morningstar Investment Management LLC bought a new position in shares of SEI Investments during the 2nd quarter worth about $333,000. Moran Wealth Management LLC bought a new position in shares of SEI Investments during the 2nd quarter worth about $4,245,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of SEI Investments by 118.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 25,363 shares of the asset manager’s stock worth $2,279,000 after purchasing an additional 13,760 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of SEI Investments during the 2nd quarter worth about $1,244,000. Institutional investors own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the transaction, the director owned 16,042 shares in the company, valued at $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock valued at $5,254,950 over the last ninety days. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SEIC. Morgan Stanley boosted their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Keefe, Bruyette & Woods lowered their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday. Piper Sandler lowered their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Oppenheimer upped their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial upped their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, SEI Investments has an average rating of “Moderate Buy” and an average target price of $104.40.

SEI Investments Trading Up 1.1%

Shares of SEI Investments stock opened at $83.42 on Wednesday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The firm’s 50-day moving average price is $86.89 and its two-hundred day moving average price is $84.45. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.25 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the business earned $1.05 earnings per share. SEI Investments’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

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.