Sequoia Financial Advisors LLC Takes $1.24 Million Position in SEI Investments Company $SEIC

Key Points

• Sequoia Financial Advisors LLC acquired a new stake in SEI Investments Company worth approximately $1.24 million by buying 13,844 shares in the second quarter.
• Wall Street analysts have given SEI Investments a consensus rating of "Moderate Buy" with an average target price of $104.40, reflecting optimism about the stock's future performance.
• Insider transactions indicate significant selling activity, with a director selling 10,000 shares for over $864,000, contributing to a 14.60% ownership reduction by insiders.

Sequoia Financial Advisors LLC bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,844 shares of the asset manager's stock, valued at approximately $1,244,000.

Several other institutional investors also recently made changes to their positions in SEIC. Bison Wealth LLC bought a new position in shares of SEI Investments during the fourth quarter valued at approximately $207,000. Farther Finance Advisors LLC grew its holdings in shares of SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after purchasing an additional 681 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SEI Investments by 24.5% during the first quarter. GAMMA Investing LLC now owns 6,061 shares of the asset manager's stock valued at $471,000 after purchasing an additional 1,192 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SEI Investments by 41.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock valued at $1,654,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of SEI Investments during the first quarter valued at approximately $206,000. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SEIC shares. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Wednesday, October 8th. Raymond James Financial boosted their price objective on SEI Investments from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday. Morgan Stanley boosted their price objective on SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Oppenheimer boosted their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods reduced their price objective 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. One 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $104.40.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the company's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director owned 16,042 shares of the company's stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock valued at $5,254,950. 14.60% of the stock is currently owned by company insiders.

SEI Investments Price Performance

SEIC opened at $80.79 on Friday. The company has a market capitalization 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 1-year low of $64.66 and a 1-year high of $93.96. The business has a 50 day moving average price of $86.52 and a two-hundred day moving average price of $84.48.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm'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 firm posted $1.05 earnings per share. Equities analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

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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