Millennium Management LLC Boosts Stake in SEI Investments Company $SEIC

Millennium Management LLC boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 339.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 783,619 shares of the asset manager's stock after purchasing an additional 605,252 shares during the quarter. Millennium Management LLC owned about 0.63% of SEI Investments worth $60,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SEIC. Versant Capital Management Inc lifted its holdings in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after purchasing an additional 681 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of SEI Investments by 1,563.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in SEI Investments during the 1st quarter valued at $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SEI Investments news, 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 transaction of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $3,090,500.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on SEIC. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Piper Sandler reduced their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $102.00.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $0.85 during trading on Friday, reaching $86.92. 183,661 shares of the company were exchanged, compared to its average volume of 826,110. The business's fifty day simple moving average is $89.42 and its 200-day simple moving average is $83.02. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The firm has a market capitalization of $10.75 billion, a PE ratio of 16.31, a P/E/G ratio of 1.32 and a beta of 0.98.

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