The Manufacturers Life Insurance Company Invests $6.14 Million in SEI Investments Company $SEIC

The Manufacturers Life Insurance Company bought a new stake in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 70,000 shares of the asset manager’s stock, valued at approximately $6,140,000. The Manufacturers Life Insurance Company owned 0.06% of SEI Investments as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC raised its holdings in SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares during the period. Root Financial Partners LLC boosted its holdings in shares of SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 200 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of SEI Investments in the 1st quarter worth about $43,000. 70.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SEIC shares. Morgan Stanley lifted their price target 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. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Piper Sandler raised their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.60.

Insider Activity

In other news, insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the sale, the insider owned 54,884 shares of the company’s stock, valued at $5,765,015.36. This trade represents a 31.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 77,883 shares in the company, valued at $8,063,226.99. This represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 142,332 shares of company stock valued at $13,745,813. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $111.63 on Monday. The company has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $89.70. The stock has a market capitalization of $13.40 billion, a PE ratio of 19.69 and a beta of 0.96. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $112.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The firm had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

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.