52,934 SEI Investments Company $SEIC Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors reduced its SEI Investments stake by 26.3%, selling 52,934 shares in the third quarter and retaining 148,138 shares valued at about $15.2 million. Hedge funds and other institutions collectively own 70.59% of the stock.
• Company insiders sold 73,777 shares worth approximately $7.9 million over the past 90 days. CEO Ryan Hicke and EVP Michael Lane were among the sellers.
• SEI Investments beat quarterly estimates, reporting EPS of $1.64 versus $1.58 expected and revenue up 14.4% year over year. Analysts’ consensus rating was “Buy,” with an average price target of $125.50.

Alps Advisors Inc. cut its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,138 shares of the asset manager's stock after selling 52,934 shares during the period. Alps Advisors Inc. owned about 0.12% of SEI Investments worth $15,208,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Calamos Advisors LLC bought a new position in shares of SEI Investments in the third quarter worth about $1,711,000. Ullmann Wealth Partners Group LLC grew its stake in shares of SEI Investments by 11.7% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 2,896 shares of the asset manager's stock valued at $297,000 after acquiring an additional 303 shares during the period. Kestra Advisory Services LLC grew its stake in shares of SEI Investments by 17.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,941 shares of the asset manager's stock valued at $405,000 after acquiring an additional 581 shares during the period. Genesis Private Wealth LLC bought a new position in shares of SEI Investments during the 3rd quarter valued at approximately $222,000. Finally, Conestoga Capital Advisors LLC bought a new stake in SEI Investments during the 3rd quarter worth approximately $7,611,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 37,500 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the completion of the transaction, the chief executive officer owned 192,815 shares of the company's stock, valued at $21,346,548.65. This represents a 16.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Lane sold 2,400 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the transaction, the executive vice president owned 39,581 shares of the company's stock, valued at approximately $4,068,135.18. The trade was a 5.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 73,777 shares of company stock worth $7,899,863. Insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SEIC. Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Wells Fargo & Company assumed coverage on shares of SEI Investments in a research note on Friday, October 2nd. They issued an "overweight" rating and a $129.00 price objective for the company. Weiss Ratings upgraded shares of SEI Investments from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, October 26th. Morgan Stanley lifted their target price on shares of SEI Investments from $125.00 to $127.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Finally, William Blair upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $125.50.

SEI Investments Trading Up 0.1%

SEIC stock opened at $105.30 on Friday. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $112.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 4.23. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 18.31 and a beta of 0.97. The business has a 50 day simple moving average of $105.54 and a two-hundred day simple moving average of $93.39.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million for the quarter, compared to analysts' expectations of $656.25 million. During the same quarter last year, the business posted $1.30 earnings per share. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts anticipate that SEI Investments Company will post 6.31 EPS for the current fiscal year.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services firm founded in 1968 by Alfred P. West Jr. The company provides technology, investment management and operational services to financial institutions and investors.

Its offerings include investment processing and administration, outsourced investment management, and technology platforms that support wealth managers, asset managers, financial institutions and institutional investors. SEI also provides investment solutions through its own asset management business.

Headquartered in Oaks, Pennsylvania, SEI serves clients in the United States and internationally, including in Europe and other global markets.

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