Horizon Investments LLC Cuts Stock Holdings in SEI Investments Company $SEIC

Key Points

• Horizon Investments LLC sharply reduced its stake in SEI Investments by 94.8% in the fourth quarter, selling 59,271 shares and leaving it with 3,222 shares valued at about $264,000.
• Despite that trimming, institutional ownership remains high, with 70.59% of SEI Investments held by hedge funds and other institutional investors.
• Analysts remain generally upbeat on SEIC, with seven Buy ratings and one Hold, a consensus Moderate Buy rating, and an average price target of $103.00.

Horizon Investments LLC trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 94.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,222 shares of the asset manager's stock after selling 59,271 shares during the quarter. Horizon Investments LLC's holdings in SEI Investments were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in SEI Investments during the 3rd quarter worth $28,000. Community Bank N.A. purchased a new position in SEI Investments during the 3rd quarter worth $35,000. Allworth Financial LP boosted its holdings in SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock worth $37,000 after acquiring an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings 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. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after buying an additional 200 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a report on Tuesday, April 21st. Morgan Stanley cut their price target on shares of SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a report on Thursday, April 2nd. UBS Group initiated coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the sale, the director directly owned 77,883 shares of the company's stock, valued at $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Sharma sold 25,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the sale, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 120,447 shares of company stock valued at $10,235,499. Insiders own 4.80% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $91.18 on Friday. The company has a market capitalization of $10.97 billion, a P/E ratio of 15.56 and a beta of 1.00. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The company's 50-day moving average is $81.34 and its 200 day moving average is $82.34.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. On average, equities research analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current year.

SEI Investments 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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