SEI Investments Company $SEIC Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lowered its position in SEI Investments Company (NASDAQ:SEIC) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,083 shares of the asset manager’s stock after selling 459 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in SEI Investments were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of SEI Investments in the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of SEI Investments by 252.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 363 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 225 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of SEI Investments by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Hicke sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company’s stock, valued at approximately $15,122,258. This trade represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock worth $5,254,950 in the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 1.6%

SEIC opened at $82.52 on Tuesday. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company’s 50-day moving average price is $86.98 and its 200 day moving average price is $84.45.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same quarter 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. Research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial upped their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. 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. Piper Sandler cut 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and an average target price of $104.00.

About SEI Investments

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.