SEI Investments Company $SEIC Shares Acquired by Millennium Management LLC

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

Several other institutional investors also recently bought and sold shares of SEIC. Versant Capital Management Inc boosted its holdings in SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after buying an additional 331 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in 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 in the last quarter. Cullen Frost Bankers Inc. lifted its stake in SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in SEI Investments in the 1st quarter worth approximately $132,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research reports. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. 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 report on Thursday, July 24th. Piper Sandler reduced 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 report on Thursday, July 24th. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $102.00.

SEI Investments Stock Down 1.4%

NASDAQ SEIC traded down $1.27 on Friday, reaching $86.50. The stock had a trading volume of 399,426 shares, compared to its average volume of 592,214. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.33 and a beta of 0.98. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The stock has a fifty day moving average price of $89.28 and a two-hundred day moving average price of $83.09.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its 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 company had revenue of $559.60 million for 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%.The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. Sell-side analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 171,260 shares in the company, valued at $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. 14.60% of the stock is owned by insiders.

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.