Vanguard Group Inc. Lowers Stake in SEI Investments Company $SEIC

Key Points

• Vanguard Group Inc. trimmed its stake in SEI Investments by 1.7% to 11,071,365 shares, representing 9.04% ownership valued at about $908.1 million at quarter-end.
• Company insiders have sold a total of 110,447 shares (~$9.32M) in the past 90 days (including sales by Philip McCabe and Chairman Alfred P. West Jr.), while institutional investors own 70.59% of the stock and insiders hold 14.60%.
• Analysts are broadly positive with a consensus "Moderate Buy" (seven Buys, one Hold) and an average price target of $103 versus the recent open of $90.22; SEI also beat EPS estimates ($1.44 vs. $1.29) despite missing revenue expectations while reporting 12.9% YoY revenue growth.

Vanguard Group Inc. lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,071,365 shares of the asset manager's stock after selling 189,226 shares during the quarter. Vanguard Group Inc. owned 9.04% of SEI Investments worth $908,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SEIC. Bison Wealth LLC purchased a new stake in shares of SEI Investments during the 4th quarter valued at $207,000. Baird Financial Group Inc. purchased a new position in SEI Investments in the 1st quarter worth $201,000. Geneos Wealth Management Inc. raised its position in 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 purchasing an additional 200 shares during the period. M&T Bank Corp raised its position in SEI Investments by 11.9% in the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after purchasing an additional 341 shares during the period. Finally, CW Advisors LLC purchased a new position in SEI Investments in the 2nd quarter worth $280,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SEIC. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Morgan Stanley decreased their target price on shares of SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. UBS Group began coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $103.00.

SEI Investments Price Performance

SEIC stock opened at $90.22 on Friday. The firm's 50-day moving average price is $80.71 and its two-hundred day moving average price is $82.15. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $93.96. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 15.40 and a beta of 1.00. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm had revenue of $622.18 million for the quarter, compared to analysts' expectations of $641.82 million. During the same quarter in the previous year, the company earned $1.17 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that SEI Investments Company will post 5.9 earnings per share for the current year.

Insider Activity

In other SEI Investments news, insider Philip Mccabe sold 15,000 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the transaction, the insider owned 54,884 shares in the company, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total transaction of $4,412,650.00. Following the completion of the transaction, the chairman owned 6,883,230 shares in the company, valued at $552,241,542.90. The trade was a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,447 shares of company stock worth $9,324,799 over the last ninety days. 14.60% of the stock is owned by insiders.

SEI Investments Company Profile

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.

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.