AlphaQuest LLC Raises Stake in SEI Investments Company $SEIC

AlphaQuest LLC lifted its stake in SEI Investments Company (NASDAQ:SEIC) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,564 shares of the asset manager’s stock after purchasing an additional 8,219 shares during the period. AlphaQuest LLC’s holdings in SEI Investments were worth $3,655,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in SEI Investments by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock valued at $2,656,000 after buying an additional 129 shares during the period. Allworth Financial LP increased its position in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of SEI Investments by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock valued at $2,533,000 after acquiring an additional 153 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of SEI Investments by 10.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock valued at $140,000 after acquiring an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of SEI Investments by 2.3% in the fourth quarter. GAMMA Investing LLC now owns 7,260 shares of the asset manager’s stock valued at $595,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $90.53 on Tuesday. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 15.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The stock’s 50-day simple moving average is $83.68 and its 200-day simple moving average is $83.15.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, equities analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley reduced their price objective on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Finally, Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider owned 921 shares of the company’s stock, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,447 shares of company stock worth $10,235,499 in the last three months. 4.80% of the stock is owned by company insiders.

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.