Envestnet Portfolio Solutions Inc. Has $2.28 Million Stake in SEI Investments Company $SEIC

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in SEI Investments by 118.6% during the second quarter, owning 25,363 shares valued at approximately $2.28 million.
• In recent research reports, SEI Investments received a range of ratings, with consensus indicating a "Moderate Buy" and a price target of $104.40.
• Insider transactions revealed that SEI's CEO Ryan Hicke sold 35,000 shares worth over $3 million, indicating a 16.97% decrease in his position.

Envestnet Portfolio Solutions Inc. raised its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 118.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,363 shares of the asset manager's stock after purchasing an additional 13,760 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in SEI Investments were worth $2,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of SEI Investments in the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of SEI Investments by 252.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock valued at $46,000 after acquiring an additional 363 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after acquiring an additional 225 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager's stock valued at $118,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a research report on Monday. Morgan Stanley lifted their target price on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Zacks Research raised SEI Investments from a "hold" rating to a "strong-buy" rating in a research report on Monday. Piper Sandler lowered their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Finally, Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, SEI Investments has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. The trade was a 16.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company's stock, valued at $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $5,254,950. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Down 2.5%

Shares of NASDAQ:SEIC opened at $80.51 on Friday. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The business has a 50 day moving average of $86.65 and a 200-day moving average of $84.45. The stock has a market cap of $9.95 billion, a PE ratio of 15.11, a P/E/G ratio of 1.25 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. Equities research analysts expect that SEI Investments Company will post 4.86 earnings per share 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.

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