SEI Investments Company $SEIC Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its SEI Investments stake by 44.3% in the third quarter, purchasing 16,539 additional shares and bringing its holdings to 53,840 shares valued at $5.53 million. Institutional investors collectively own 70.59% of SEIC.
• SEI Investments exceeded quarterly expectations, reporting $1.64 in earnings per share and $662.04 million in revenue, with revenue up 14.4% year over year.
• Analyst sentiment remains positive, with eight Buy ratings and one Hold rating; the consensus price target is $125.50. However, company insiders sold 138,777 shares worth $14.66 million over the last quarter.

Crossmark Global Holdings Inc. raised its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 44.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,840 shares of the asset manager's stock after purchasing an additional 16,539 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in SEI Investments were worth $5,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in SEI Investments in the 2nd quarter valued at $870,745,000. Bank of America Corp DE purchased a new position in SEI Investments during the 2nd quarter worth $255,067,000. Dimensional Fund Advisors LP grew its stake in shares of SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager's stock worth $146,984,000 after acquiring an additional 20,054 shares in the last quarter. First Trust Advisors LP grew its stake in shares of SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager's stock worth $143,025,000 after acquiring an additional 21,731 shares in the last quarter. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of SEI Investments in the 2nd quarter worth $87,924,000. Institutional investors own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In related news, insider Philip McCabe sold 24,957 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the completion of the sale, the insider owned 54,884 shares of the company's stock, valued at $5,765,015.36. This trade represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn McCarthy sold 10,000 shares of SEI Investments stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the sale, the director directly owned 77,883 shares of the company's stock, valued at approximately $8,063,226.99. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,777 shares of company stock worth $14,655,833 over the last quarter. Corporate insiders own 4.80% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $102.29 on Friday. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The company has a quick ratio of 4.96, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company's fifty day moving average is $106.40 and its 200 day moving average is $96.96. The stock has a market cap of $12.28 billion, a PE ratio of 17.79 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.06. The company had revenue of $662.04 million during the quarter, compared to analyst estimates of $656.25 million. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. SEI Investments's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. Research analysts anticipate that SEI Investments Company will post 6.30 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SEIC. Weiss Ratings raised shares of SEI Investments from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Morgan Stanley upped their price objective on shares of SEI Investments from $125.00 to $127.00 and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Wells Fargo & Company started coverage on shares of SEI Investments in a research note on Friday, October 2nd. They issued an "overweight" rating and a $129.00 price objective for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $129.00 target price (up from $127.00) on shares of SEI Investments in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.50.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI's offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.