Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in SEI Investments Company $SEIC

Key Points

• Fideuram Intesa Sanpaolo Private Banking bought a new stake in SEI Investments during the fourth quarter, acquiring 39,217 shares valued at about $3.2 million.
• Analyst sentiment remains generally positive: seven analysts rate SEIC a Buy, one rates it Hold, and the stock’s average price target is $103.
• SEI Investments reported Q1 earnings of $1.44 per share, beating estimates, while revenue rose 12.9% year over year to $622.18 million; however, insiders have also been selling shares recently.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,217 shares of the asset manager's stock, valued at approximately $3,217,000.

Other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of SEI Investments during the 3rd quarter valued at $28,000. Community Bank N.A. acquired a new position in shares of SEI Investments during the 3rd quarter valued at $35,000. Allworth Financial LP increased its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock valued at $37,000 after purchasing an additional 132 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 339 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SEIC. Morgan Stanley lowered their price target on SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. UBS Group began coverage on SEI Investments in a research report on Wednesday, February 4th. They set a "buy" rating and a $115.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Raymond James Financial restated an "outperform" rating and issued a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, SEI Investments presently has an average rating of "Moderate Buy" and an average price target of $103.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $90.77 on Thursday. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 15.49 and a beta of 1.00. The stock's fifty day simple moving average is $83.05 and its 200 day simple moving average is $82.96. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to analysts' expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. As a group, sell-side analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathryn Mccarthy sold 10,000 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the director owned 77,883 shares of the company's stock, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sanjay Sharma sold 25,000 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company's stock, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 120,447 shares of company stock worth $10,235,499. Corporate insiders own 4.80% of the company's stock.

SEI Investments Company Profile

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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