US Bancorp DE Grows Holdings in SEI Investments Company $SEIC

US Bancorp DE raised its stake in SEI Investments Company (NASDAQ:SEIC) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,204 shares of the asset manager’s stock after acquiring an additional 1,433 shares during the quarter. US Bancorp DE’s holdings in SEI Investments were worth $3,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cadence Bank lifted its stake in shares of SEI Investments by 1.2% during the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after buying an additional 121 shares in the last quarter. Fifth Third Bancorp increased its holdings in SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after acquiring an additional 141 shares during the period. Concurrent Investment Advisors LLC increased its holdings in SEI Investments by 2.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock worth $435,000 after acquiring an additional 160 shares during the period. Clark Capital Management Group Inc. increased its holdings in SEI Investments by 1.2% during the 1st quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock worth $1,180,000 after acquiring an additional 183 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in SEI Investments by 8.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager’s stock worth $208,000 after acquiring an additional 200 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 35,000 shares of SEI Investments 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 sale, the chief executive officer owned 171,260 shares in the company, valued at $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,000 shares of company stock worth $5,254,950. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Oppenheimer boosted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut their price target on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Raymond James Financial boosted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $83.42 on Wednesday. The company has a 50-day moving average of $86.89 and a 200 day moving average of $84.45. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.25 and a beta of 0.96. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. The company 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. On average, equities analysts anticipate 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.