Leith Wheeler Investment Counsel Ltd. Acquires 22,561 Shares of SEI Investments Company $SEIC

Key Points

• Leith Wheeler Investment Counsel Ltd. increased its stake in SEI Investments by 11%, acquiring an additional 22,561 shares, bringing its total holdings to 228,370 shares, which is valued at approximately $20.5 million.
• In recent transactions, SEI Investments insiders sold a total of 60,000 shares, decreasing their ownership stake in the company significantly, with one director's sale reflecting a 38.4% decrease in their holdings.
• SEI Investments reported a strong quarterly performance, with earnings per share of $1.78, surpassing analyst expectations, and a revenue increase of 7.8% compared to the previous year.

Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,370 shares of the asset manager's stock after acquiring an additional 22,561 shares during the quarter. SEI Investments makes up 1.2% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 22nd biggest position. Leith Wheeler Investment Counsel Ltd. owned 0.18% of SEI Investments worth $20,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Cadence Bank grew its stake in SEI Investments by 1.2% in the first quarter. Cadence Bank now owns 10,551 shares of the asset manager's stock worth $819,000 after purchasing an additional 121 shares during the period. Fifth Third Bancorp grew its stake in SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager's stock worth $118,000 after purchasing an additional 141 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of SEI Investments by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock worth $435,000 after acquiring an additional 160 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in shares of SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager's stock worth $1,180,000 after acquiring an additional 183 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of SEI Investments by 8.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock worth $208,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the 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 transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,000 shares of company stock valued at $5,254,950. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

SEI Investments stock opened at $81.22 on Monday. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The stock has a market capitalization of $10.04 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The business's fifty day moving average is $87.10 and its 200 day moving average is $84.42.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS 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 company had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. During the same period last year, the firm posted $1.05 earnings per share. SEI Investments's revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SEIC shares. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Raymond James Financial increased their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

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.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.