Readystate Asset Management LP Takes Position in SEI Investments Company $SEIC

Readystate Asset Management LP acquired a new stake in SEI Investments Company (NASDAQ:SEIC) during the second quarter, Holdings Channel.com reports. The firm acquired 18,797 shares of the asset manager’s stock, valued at approximately $1,649,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Oxbow Advisors LLC bought a new stake in shares of SEI Investments during the 1st quarter worth $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in SEI Investments in the 4th quarter worth $3,217,000. Lazard Asset Management LLC lifted its position in SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 17,504 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in SEI Investments by 10.2% during the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock valued at $11,273,000 after acquiring an additional 12,713 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of SEI Investments in the first quarter valued at about $3,625,000. Institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Raymond James Financial boosted their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Piper Sandler upped their target price on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. UBS Group restated a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $122.60.

SEI Investments Stock Performance

NASDAQ SEIC opened at $110.39 on Tuesday. The stock has a market cap of $13.25 billion, a P/E ratio of 19.47 and a beta of 0.97. The company’s 50-day simple moving average is $102.70 and its 200 day simple moving average is $91.01. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The firm had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. As a group, research analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Alfred West, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the transaction, the chairman owned 6,825,783 shares in the company, valued at $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip McCabe sold 24,957 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,765,015.36. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 142,332 shares of company stock worth $13,745,813 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.