American Capital Management Inc. bought a new position 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 & Exchange Commission. The fund bought 745,323 shares of the asset manager's stock, valued at approximately $65,372,000. SEI Investments makes up about 2.9% of American Capital Management Inc.'s portfolio, making the stock its 10th largest position. American Capital Management Inc. owned approximately 0.62% of SEI Investments at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SEIC. Elevation Wealth Partners LLC raised its stake in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock worth $27,000 after purchasing an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after buying an additional 339 shares during the last quarter. Root Financial Partners LLC grew its holdings in 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 buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. raised its position in 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 buying an additional 200 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in SEI Investments in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 70.59% of the company's stock.
Insider Buying and Selling
In related news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $103.53, for a total value of $1,035,300.00. Following the transaction, the director directly owned 77,883 shares of the company's stock, valued at approximately $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 142,332 shares of company stock worth $13,745,813 in the last three months. Insiders own 4.80% of the company's stock.
Analyst Upgrades and Downgrades
SEIC has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their target price 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. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Finally, UBS Group reiterated a "buy" rating and issued a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $122.60.
Read Our Latest Analysis on SEI Investments
SEI Investments Stock Performance
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. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $111.90. The company has a 50-day simple moving average of $99.21 and a 200 day simple moving average of $89.32.
SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million for the quarter, compared to analysts' expectations of $636.35 million. During the same period in the previous year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts predict that SEI Investments Company will post 6.2 EPS for the current year.
About SEI Investments
(
Free Report)
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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