JLB & Associates Inc. Has $24.11 Million Stock Position in SEI Investments Company $SEIC

Key Points

• JLB & Associates Inc. has reduced its stake in SEI Investments Company by 3.0%, now owning 268,261 shares worth approximately $24.11 million, making it the fund's 7th largest position.
• Several institutional investors significantly increased their holdings in SEI Investments during the second quarter, with Janney Montgomery Scott LLC raising its stake by an extraordinary 5,005.9%.
• SEI Investments recently reported quarterly earnings of $1.78 per share, surpassing expectations, and has a current market capitalization of $10.56 billion.

JLB & Associates Inc. reduced its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,261 shares of the asset manager's stock after selling 8,343 shares during the quarter. SEI Investments accounts for about 3.4% of JLB & Associates Inc.'s investment portfolio, making the stock its 7th largest position. JLB & Associates Inc. owned 0.22% of SEI Investments worth $24,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SEIC. Janney Montgomery Scott LLC raised its stake in SEI Investments by 5,005.9% in the second quarter. Janney Montgomery Scott LLC now owns 135,511 shares of the asset manager's stock valued at $12,177,000 after purchasing an additional 132,857 shares in the last quarter. Genesis Private Wealth LLC bought a new stake in shares of SEI Investments during the 2nd quarter worth $201,000. Avior Wealth Management LLC grew its position in SEI Investments by 32.9% in the second quarter. Avior Wealth Management LLC now owns 7,384 shares of the asset manager's stock worth $664,000 after acquiring an additional 1,828 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in SEI Investments in the second quarter worth $6,652,000. Finally, Novem Group bought a new position in SEI Investments in the second quarter valued at $1,016,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

SEIC opened at $85.42 on Tuesday. The stock's 50 day simple moving average is $87.92 and its 200 day simple moving average is $83.93. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.30 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that SEI Investments Company will post 4.86 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SEIC shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Morgan Stanley raised their price objective on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Zacks Research cut shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Piper Sandler decreased their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $105.00.

Insider Activity

In other news, Director Carl Guarino sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director directly owned 16,042 shares of the company's stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the sale, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock worth $5,254,950 over the last ninety days. 14.60% of the stock is owned by insiders.

About SEI Investments

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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