Morningstar Investment Management LLC Buys New Shares in SEI Investments Company $SEIC

Key Points

• Morningstar Investment Management LLC has acquired 3,706 shares of SEI Investments, valued at approximately $333,000, during the second quarter.
• Insider Mark Andrew Warner sold 5,000 shares, representing a 79.37% decrease in his position, while Director Carl Guarino sold 10,000 shares, marking a 38.40% decrease in his ownership.
• SEI Investments has an average rating of "Moderate Buy" from analysts, with a current average price target of $104.40.

Morningstar Investment Management LLC bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,706 shares of the asset manager's stock, valued at approximately $333,000.

A number of other large investors also recently modified their holdings of the company. Moran Wealth Management LLC purchased a new position in shares of SEI Investments during the 2nd quarter valued at $4,245,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of SEI Investments by 118.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 25,363 shares of the asset manager's stock valued at $2,279,000 after buying an additional 13,760 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of SEI Investments during the 2nd quarter valued at $1,244,000. Vest Financial LLC lifted its stake in shares of SEI Investments by 63.5% during the 2nd quarter. Vest Financial LLC now owns 54,326 shares of the asset manager's stock valued at $4,882,000 after buying an additional 21,094 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. increased its holdings in SEI Investments by 11.0% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 228,370 shares of the asset manager's stock valued at $20,521,000 after acquiring an additional 22,561 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's 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 sale, the insider directly owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the business'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 sale, the director directly owned 16,042 shares of the company's stock, 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 sold 60,000 shares of company stock valued at $5,254,950 in the last quarter. Corporate insiders own 14.30% of the company's stock.

Analysts Set New Price Targets

SEIC has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a report on Wednesday, October 8th. Oppenheimer lifted their price target 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 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 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. Finally, Keefe, Bruyette & Woods reduced their target price on shares of SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.40.

SEI Investments Trading Up 1.1%

Shares of NASDAQ:SEIC opened at $83.42 on Wednesday. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.25 and a beta of 0.96. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The firm's 50-day moving average is $86.89 and its 200 day moving average is $84.45.

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

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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