UMB Bank n.a. Decreases Position in SEI Investments Company $SEIC

Key Points

• UMB Bank n.a. reduced its holdings in SEI Investments Company by 5.8%, ending the second quarter with approximately 77,526 shares worth around $6.97 million.
• Analysts have mixed views on SEI Investments, with Zacks Research downgrading it to a "hold" and other firms raising price targets, resulting in a consensus price target of $105.00.
• Insider trading activity includes SEI's CEO selling 35,000 shares at $88.30 each, which represents a 16.97% decrease in his ownership stake.

UMB Bank n.a. reduced its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,526 shares of the asset manager's stock after selling 4,753 shares during the quarter. UMB Bank n.a. owned approximately 0.06% of SEI Investments worth $6,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. Bison Wealth LLC bought a new stake in SEI Investments in the fourth quarter valued at about $207,000. Cetera Investment Advisers increased its holdings in SEI Investments by 5.8% in the fourth quarter. Cetera Investment Advisers now owns 5,218 shares of the asset manager's stock valued at $430,000 after purchasing an additional 285 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in SEI Investments by 12.0% in the fourth quarter. Nuveen Asset Management LLC now owns 283,719 shares of the asset manager's stock valued at $23,401,000 after purchasing an additional 30,496 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SEI Investments by 38.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock valued at $62,358,000 after purchasing an additional 209,850 shares during the last quarter. Finally, Ascent Group LLC increased its position in shares of SEI Investments by 4.3% in the 4th quarter. Ascent Group LLC now owns 20,865 shares of the asset manager's stock valued at $1,721,000 after buying an additional 851 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler lowered their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Oppenheimer raised their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial raised their price objective on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday. Finally, Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of "Hold" and a consensus price target of $105.00.

SEI Investments Price Performance

Shares of SEI Investments stock traded down $0.94 during trading on Tuesday, hitting $86.14. The company's stock had a trading volume of 195,626 shares, compared to its average volume of 830,849. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98. The stock has a 50-day moving average price of $88.56 and a two-hundred day moving average price of $83.51.

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

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the sale, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This trade represents a 16.97% decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is owned by corporate insiders.

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.