Founders Financial Securities LLC Purchases New Holdings in SEI Investments Company $SEIC

Founders Financial Securities LLC purchased a new stake in SEI Investments Company (NASDAQ:SEIC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,102 shares of the asset manager’s stock, valued at approximately $729,000.

Several other institutional investors have also recently made changes to their positions in SEIC. Jupiter Topco LLC acquired a new stake in SEI Investments in the second quarter valued at $3,958,000. Readystate Asset Management LP bought a new position in shares of SEI Investments in the 2nd quarter valued at about $1,649,000. Oxbow Advisors LLC bought a new position in shares of SEI Investments in the 1st quarter valued at about $3,283,000. Lazard Asset Management LLC increased its stake in shares of SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock worth $2,985,000 after purchasing an additional 17,504 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of SEI Investments during the 1st quarter worth about $3,625,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $129.00 price target (up from $127.00) on shares of SEI Investments in a report on Thursday, October 22nd. Wall Street Zen downgraded SEI Investments from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. Finally, Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, SEI Investments currently has a consensus rating of “Buy” and an average price target of $125.50.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $103.42 on Friday. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15. The company has a quick ratio of 4.23, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $105.99 and a two-hundred day simple moving average of $92.87. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 17.99 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million during the quarter, compared to the consensus estimate of $656.25 million. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts forecast that SEI Investments Company will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael Lane sold 2,400 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total transaction of $246,672.00. Following the sale, the executive vice president owned 39,581 shares of the company’s stock, valued at $4,068,135.18. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn McCarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the sale, the director directly 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. Insiders sold 113,777 shares of company stock valued at $12,088,683 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.