Redwood Investment Management LLC Takes Position in SEI Investments Company $SEIC

Redwood Investment Management LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, Holdings Channel reports. The fund acquired 13,366 shares of the asset manager’s stock, valued at approximately $1,172,000.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in SEI Investments in the 2nd quarter valued at approximately $870,745,000. Bank of America Corp DE acquired a new position in SEI Investments during the 2nd quarter worth approximately $255,067,000. Caisse de depot et placement du Quebec bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $87,924,000. Bank of New York Mellon Corp bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $78,430,000. Finally, American Capital Management Inc. acquired a new stake in shares of SEI Investments in the second quarter valued at approximately $65,372,000. 70.59% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SEI Investments news, insider Philip Mccabe sold 5,043 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total value of $532,036.50. Following the sale, the insider owned 54,884 shares in the company, valued at $5,790,262. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Sharma sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 142,332 shares of company stock worth $13,745,813 in the last three months. Insiders own 4.80% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $110.78 on Thursday. The company has a fifty day moving average price of $99.21 and a two-hundred day moving average price of $89.32. SEI Investments Company has a one year low of $75.08 and a one year high of $111.90. The stock has a market cap of $13.30 billion, a P/E ratio of 19.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, equities analysts predict that SEI Investments Company will post 6.2 EPS for the current year.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research reports. Morgan Stanley boosted their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Raymond James Financial raised their target price on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, UBS Group restated a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.