SEI Investments Company $SEIC Stock: TD Waterhouse Canada Inc. Lowers Position

TD Waterhouse Canada Inc. decreased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 45.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,444 shares of the asset manager’s stock after selling 28,157 shares during the period. TD Waterhouse Canada Inc.’s holdings in SEI Investments were worth $3,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SEIC. Cyndeo Wealth Partners LLC bought a new position in SEI Investments in the 3rd quarter worth about $212,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of SEI Investments in the 3rd quarter valued at about $123,000. Ellsworth Advisors LLC bought a new stake in shares of SEI Investments during the 3rd quarter valued at about $383,000. State of Alaska Department of Revenue boosted its position in shares of SEI Investments by 10.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,895 shares of the asset manager’s stock valued at $1,015,000 after acquiring an additional 938 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of SEI Investments by 95.1% during the 3rd quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 117 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SEIC. UBS Group reissued a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Piper Sandler lifted their target price on shares of SEI Investments from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Weiss Ratings raised shares of SEI Investments from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.83.

SEI Investments Stock Up 2.3%

SEIC opened at $107.15 on Wednesday. The stock has a market cap of $12.86 billion, a PE ratio of 18.90 and a beta of 0.97. 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 Company has a 52 week low of $75.08 and a 52 week high of $112.15. The business’s fifty day simple moving average is $106.46 and its 200 day simple moving average is $96.50.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%. The business had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter last year, the business posted $1.78 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, research analysts expect that SEI Investments Company will post 6.22 earnings per share for the current fiscal year.

Insider Transactions at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip McCabe sold 24,957 shares of the stock in a transaction dated 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 transaction, the insider owned 54,884 shares in the company, valued at $5,765,015.36. This trade represents a 31.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 158,777 shares of company stock worth $16,642,433. Company insiders own 4.80% of the company’s stock.

SEI Investments Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.