SEI Investments Company $SEIC Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its SEI Investments stake by 52.6% in the second quarter, selling 239,860 shares and retaining 216,054 shares worth approximately $18.95 million. Institutional investors own 70.59% of the company.
• SEI Investments reported quarterly earnings of $1.66 per share, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• SEIC shares opened at $110.39, near their 52-week high of $112.15. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $122.60, although insiders have sold more than $13.7 million in stock over the past 90 days.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 52.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,054 shares of the asset manager's stock after selling 239,860 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of SEI Investments worth $18,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SEIC. United Capital Financial Advisors LLC acquired a new stake in SEI Investments during the 2nd quarter worth approximately $478,000. Caitlin John LLC acquired a new stake in shares of SEI Investments in the second quarter valued at $56,000. Public Employees Retirement System of Ohio purchased a new position in SEI Investments in the second quarter valued at $4,199,000. Redwood Investment Management LLC acquired a new position in SEI Investments during the 2nd quarter worth $1,172,000. Finally, Corient Private Wealth LP acquired a new position in SEI Investments during the 2nd quarter worth $8,728,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Buying and Selling

In other SEI Investments news, Director Kathryn McCarthy sold 10,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the transaction, the director owned 77,883 shares of the company's stock, valued at approximately $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Philip McCabe sold 24,957 shares of SEI Investments stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total value of $2,621,483.28. Following the sale, the insider owned 54,884 shares in the company, valued at $5,765,015.36. This trade represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 142,332 shares of company stock valued at $13,745,813 over the last ninety days. Company insiders own 4.80% of the company's stock.

SEI Investments Price Performance

SEIC stock opened at $110.39 on Friday. The business has a 50 day moving average price of $102.23 and a 200 day moving average price of $90.70. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 19.47 and a beta of 0.97. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million for the quarter, compared to analysts' expectations of $636.35 million. During the same quarter last year, the company earned $1.78 earnings per share. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SEIC has been the topic of a number of analyst reports. Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 21st. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a research note on Friday, July 17th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Piper Sandler lifted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley increased their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.60.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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