Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in SEI Investments Company $SEIC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,774 shares of the asset manager’s stock after selling 527 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SEI Investments were worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock worth $134,487,000 after acquiring an additional 111,065 shares during the last quarter. Boston Trust Walden Corp raised its position in SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager’s stock worth $102,897,000 after acquiring an additional 19,150 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in SEI Investments by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock worth $62,186,000 after acquiring an additional 45,019 shares during the last quarter. Millennium Management LLC raised its position in SEI Investments by 339.3% during the first quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock worth $60,832,000 after acquiring an additional 605,252 shares during the last quarter. Finally, Amundi raised its position in SEI Investments by 228.2% during the first quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after acquiring an additional 543,753 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the sale, the director owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $4,398,350 over the last 90 days. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Piper Sandler cut their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Finally, Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.00.

SEI Investments Price Performance

NASDAQ:SEIC opened at $85.70 on Monday. The firm has a 50 day simple moving average of $88.03 and a 200-day simple moving average of $83.85. The firm has a market cap of $10.59 billion, a PE ratio of 16.08, a P/E/G ratio of 1.30 and a beta of 0.98. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.60. The business had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, sell-side analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.