American Century Companies Inc. Sells 104,434 Shares of SEI Investments Company $SEIC

Key Points

• American Century Companies Inc. has decreased its stake in SEI Investments Company by 51.3%, reducing its holdings to approximately 99,318 shares after selling 104,434 shares in the first quarter.
• Analysts have raised their price targets for SEI Investments, with Raymond James increasing its target from $115 to $118, while Morgan Stanley set a target of $100.
• CEO Ryan Hicke and another insider have sold shares in SEI Investments, with Hicke selling 35,000 shares and reducing his ownership by 16.97%.

American Century Companies Inc. cut its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 51.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,318 shares of the asset manager's stock after selling 104,434 shares during the quarter. American Century Companies Inc. owned 0.08% of SEI Investments worth $7,710,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Versant Capital Management Inc increased its position in SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after buying an additional 225 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after buying an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in SEI Investments during the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SEIC shares. Piper Sandler dropped their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Oppenheimer upped their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial increased their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

Insider Buying and Selling at SEI Investments

In other news, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

Shares of SEI Investments stock traded down $0.57 during trading on Friday, reaching $88.28. The company's stock had a trading volume of 703,792 shares, compared to its average volume of 588,419. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95. The business's fifty day moving average price is $89.69 and its 200-day moving average price is $82.66.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. Sell-side analysts anticipate that SEI Investments Company will post 4.86 EPS for the current 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.