13,366 Shares in SEI Investments Company $SEIC Purchased by Redwood Investment Management LLC

Key Points

• Redwood Investment Management purchased 13,366 shares of SEI Investments in the second quarter, valued at approximately $1.17 million. Institutional investors and hedge funds own 70.59% of the company.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $122.60.
• SEI Investments exceeded quarterly earnings expectations, reporting $1.66 in EPS versus a $1.44 estimate and revenue of $641.62 million, up 14.7% year over year. However, insiders sold 142,332 shares worth roughly $13.75 million over the past three months.

Redwood Investment Management LLC purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,366 shares of the asset manager's stock, valued at approximately $1,172,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock worth $38,000 after purchasing an additional 141 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of SEI Investments in the first quarter valued at $43,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SEIC shares. UBS Group reaffirmed a "buy" rating and issued a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Finally, Piper Sandler upped their target price on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.60.

Insiders Place Their Bets

In related news, insider Philip Mccabe sold 24,957 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the completion of the sale, the insider directly owned 54,884 shares of the company's stock, valued at approximately $5,765,015.36. This represents a 31.26% 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, Director Kathryn Mccarthy sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the sale, the director owned 77,883 shares in the company, valued at $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 142,332 shares of company stock worth $13,745,813 in the last three months. 4.80% of the stock is owned by corporate insiders.

SEI Investments Stock Down 0.2%

Shares of NASDAQ:SEIC opened at $110.78 on Thursday. The company has a market capitalization of $13.30 billion, a PE ratio of 19.54 and a beta of 0.96. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $111.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company has a 50 day moving average price of $99.21 and a two-hundred day moving average price of $89.32.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. Analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Profile

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.

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