Wrapmanager Inc. Sells 434 Shares of SEI Investments (NASDAQ:SEIC)

Wrapmanager Inc. lowered its position in shares of SEI Investments (NASDAQ:SEIC) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,506 shares of the asset manager’s stock after selling 434 shares during the quarter. Wrapmanager Inc.’s holdings in SEI Investments were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in SEI Investments during the fourth quarter worth $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of SEI Investments in the 1st quarter worth about $14,172,000. Jupiter Asset Management Ltd. purchased a new position in shares of SEI Investments in the 2nd quarter worth about $7,787,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in SEI Investments during the fourth quarter valued at about $6,990,000. Finally, Power Corp of Canada purchased a new stake in SEI Investments during the fourth quarter worth about $5,649,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEIC. Piper Sandler dropped their target price on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $71.25.

Insider Activity

In related news, Director William Doran sold 5,000 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Doran sold 5,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares in the company, valued at $44,004,117.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,582 shares of company stock worth $9,277,605. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Up 0.4 %

Shares of NASDAQ:SEIC opened at $66.82 on Friday. The company has a 50-day moving average price of $66.50 and a two-hundred day moving average price of $67.25. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The firm has a market capitalization of $8.68 billion, a PE ratio of 18.26, a P/E/G ratio of 1.32 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The company had revenue of $518.99 million during the quarter, compared to the consensus estimate of $523.80 million. During the same period last year, the firm earned $0.89 EPS. SEI Investments’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that SEI Investments will post 4.2 earnings per share for the current fiscal 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.