Moran Wealth Management LLC Makes New Investment in SEI Investments Company $SEIC

Key Points

• Moran Wealth Management LLC has invested approximately $4.25 million in SEI Investments Company, acquiring 47,238 shares during the second quarter.
• Several institutions increased their stakes in SEI Investments, with Envestnet Portfolio Solutions Inc. raising holdings by 118.6%, indicating strong institutional interest in the company.
• Wall Street analysts exhibit mixed ratings for SEI Investments, with a consensus average target price of $104.40, as firms like Oppenheimer and Morgan Stanley upgraded their price objectives.

Moran Wealth Management LLC purchased a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,238 shares of the asset manager's stock, valued at approximately $4,245,000.

Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its holdings in SEI Investments by 118.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 25,363 shares of the asset manager's stock valued at $2,279,000 after purchasing an additional 13,760 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in SEI Investments during the second quarter valued at about $1,244,000. Vest Financial LLC lifted its holdings in SEI Investments by 63.5% during the second quarter. Vest Financial LLC now owns 54,326 shares of the asset manager's stock valued at $4,882,000 after purchasing an additional 21,094 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its holdings in SEI Investments by 11.0% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 228,370 shares of the asset manager's stock valued at $20,521,000 after purchasing an additional 22,561 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in SEI Investments by 22.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,704 shares of the asset manager's stock valued at $2,939,000 after purchasing an additional 6,041 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SEIC. Oppenheimer upped their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Piper Sandler dropped their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Morgan Stanley upped their price target on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.40.

SEI Investments Trading Up 1.1%

SEIC stock opened at $83.42 on Wednesday. The company's 50 day moving average is $86.89 and its 200 day moving average is $84.45. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

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

Insider Activity at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the transaction, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. This trade represents a 38.40% 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 valued at $5,254,950 in the last ninety days. 14.30% of the stock is currently owned by company 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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