SEI Investments Company $SEIC Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in SEI Investments by 13.3% during the second quarter, holding 125,676 shares worth approximately $11.3 million post-sale.
• SEI Investments reported $1.78 earnings per share for the latest quarter, exceeding analysts' expectations of $1.18, and noted a 7.8% increase in revenue year-over-year.
• Analysts have mixed views on SEI Investments, with target prices ranging from $93 to $120, while maintaining an average rating of "Moderate Buy."

TD Asset Management Inc decreased its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,676 shares of the asset manager's stock after selling 19,288 shares during the quarter. TD Asset Management Inc owned 0.10% of SEI Investments worth $11,293,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of SEI Investments in the 2nd quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of SEI Investments by 252.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock worth $46,000 after acquiring an additional 363 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after acquiring an additional 200 shares in the last quarter. First Horizon Advisors Inc. grew its position 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 worth $62,000 after acquiring an additional 225 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of SEI Investments by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager's stock worth $118,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 0.3%

Shares of NASDAQ SEIC opened at $80.79 on Friday. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.22 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 stock's 50 day simple moving average is $86.52 and its 200 day simple moving average is $84.52.

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, topping analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the transaction, the director owned 75,641 shares of the company's stock, valued at $6,479,408.06. This trade represents a 11.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock worth $5,254,950. Insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler decreased their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Keefe, Bruyette & Woods decreased their target price on SEI Investments from $98.00 to $93.00 and set a "market perform" rating for the company in a research report on Monday, October 13th. Raymond James Financial lifted their target price on SEI Investments from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday. Morgan Stanley raised their price target on SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.40.

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.

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