SEI Investments (NASDAQ:SEIC) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC trimmed its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,836 shares of the asset manager’s stock after selling 2,915 shares during the quarter. Modera Wealth Management LLC owned about 0.07% of SEI Investments worth $5,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in SEI Investments in the 4th quarter valued at approximately $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in SEI Investments in the 1st quarter valued at approximately $14,172,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in SEI Investments in the 4th quarter valued at approximately $6,990,000. Power Corp of Canada acquired a new stake in SEI Investments in the 4th quarter valued at approximately $5,649,000. Finally, Bank of Nova Scotia increased its position in SEI Investments by 190.9% in the 4th quarter. Bank of Nova Scotia now owns 114,840 shares of the asset manager’s stock valued at $7,298,000 after acquiring an additional 75,358 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler lowered their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.25.

Insider Transactions at SEI Investments

In other news, Director William Doran sold 5,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders sold a total of 137,582 shares of company stock valued at $9,277,605 over the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC traded up $0.17 during trading hours on Friday, hitting $67.63. 531,047 shares of the company were exchanged, compared to its average volume of 574,197. The company has a market capitalization of $8.89 billion, a PE ratio of 18.48, a PEG ratio of 1.33 and a beta of 0.99. The firm has a fifty day simple moving average of $66.22 and a 200-day simple moving average of $67.23. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The business had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.89 EPS. Sell-side analysts expect that SEI Investments will post 4.19 EPS for the current year.

SEI Investments Company 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.