Corient Private Wealth LP Purchases New Shares in SEI Investments Company $SEIC

Key Points

• Corient Private Wealth LP acquired 99,506 shares of SEI Investments during the second quarter, valued at approximately $8.7 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments exceeded quarterly expectations, reporting $1.66 in EPS versus the $1.44 consensus estimate and $641.62 million in revenue, up 14.7% year over year.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold rating producing a “Moderate Buy” consensus and a $122.60 average price target; however, insiders sold 142,332 shares worth about $13.75 million over the past 90 days.

Corient Private Wealth LP acquired a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 99,506 shares of the asset manager's stock, valued at approximately $8,728,000. Corient Private Wealth LP owned approximately 0.08% of SEI Investments at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC lifted its position in SEI Investments by 96.8% during 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 period. CIBC Private Wealth Group LLC grew its position in SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after acquiring an additional 339 shares during 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, CX Institutional increased its stake in shares of SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager's stock valued at $47,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $111.63 on Monday. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15. The firm has a market capitalization of $13.40 billion, a PE ratio of 19.69 and a beta of 0.96. The firm has a fifty day simple moving average of $100.09 and a two-hundred day simple moving average of $89.70.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Raymond James Financial boosted their price objective 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. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.60.

Insider Activity

In other SEI Investments news, insider Philip Mccabe sold 24,957 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the sale, the insider directly owned 39,829 shares of the company's stock, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 142,332 shares of company stock worth $13,745,813. Company insiders own 4.80% of the company's stock.

About SEI Investments

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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