First Citizens Bank & Trust Co. Acquires 11,373 Shares of SEI Investments Company $SEIC

Key Points

• First Citizens Bank & Trust Co. increased its stake in SEI Investments Company by 114.3%, owning a total of 21,324 shares valued at approximately $1.9 million after acquiring 11,373 shares.
• Several other institutional investors have also made significant adjustments to their positions in SEI Investments, indicating a continued interest from large funds.
• Analysts have mixed ratings for SEI Investments, with upgrades by Zacks and Morgan Stanley, while Keefe, Bruyette & Woods has lowered its price target, suggesting varying outlooks on the stock’s performance.

First Citizens Bank & Trust Co. boosted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 114.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,324 shares of the asset manager's stock after acquiring an additional 11,373 shares during the period. First Citizens Bank & Trust Co.'s holdings in SEI Investments were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of SEI Investments during the second quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 in the last quarter. Geneos Wealth Management Inc. grew its stake 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 in the last quarter. First Horizon Advisors Inc. grew its stake 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 in the last quarter. Finally, Fifth Third Bancorp grew its stake 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 in the last quarter. Institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In related news, Director Carl Guarino sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the sale, the director directly owned 16,042 shares of the company's stock, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were 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. This trade represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $5,254,950. 14.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a research note on Monday, October 13th. Zacks Research upgraded shares of SEI Investments from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Morgan Stanley upped their price target on shares of SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Raymond James Financial raised their price target on SEI Investments from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 14th. Finally, 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 research report on Tuesday, July 8th. One equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.40.

SEI Investments Stock Up 0.1%

NASDAQ:SEIC opened at $81.53 on Friday. The stock's 50-day simple moving average is $86.00 and its 200 day simple moving average is $84.75. The firm has a market capitalization of $10.08 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. The business had revenue of $578.51 million for the quarter, compared to analyst estimates of $578.75 million. SEI Investments had a return on equity of 30.60% and a net margin of 31.09%.SEI Investments's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. On average, analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal 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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