Farther Finance Advisors LLC Acquires 446 Shares of SEI Investments Company $SEIC

Farther Finance Advisors LLC lifted its holdings in SEI Investments Company (NASDAQ:SEIC) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,780 shares of the asset manager’s stock after purchasing an additional 446 shares during the quarter. Farther Finance Advisors LLC’s holdings in SEI Investments were worth $160,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in SEI Investments in the first quarter valued at approximately $51,773,000. Millennium Management LLC lifted its position in SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock valued at $60,832,000 after acquiring an additional 605,252 shares in the last quarter. Amundi lifted its position in SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock valued at $57,472,000 after acquiring an additional 543,753 shares in the last quarter. Azora Capital LP acquired a new position in SEI Investments in the 1st quarter worth $28,852,000. Finally, Nuveen LLC bought a new position in SEI Investments during the 1st quarter worth about $21,407,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEIC has been the topic of a number of research reports. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Morgan Stanley boosted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $98.00 price target (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Finally, Piper Sandler cut their price target on SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $105.00.

SEI Investments Stock Performance

SEIC opened at $84.86 on Friday. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The firm has a market capitalization of $10.49 billion, a PE ratio of 15.92, a PEG ratio of 1.27 and a beta of 0.97. The business’s 50-day simple moving average is $87.59 and its 200 day simple moving average is $84.01.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The business had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. SEI Investments’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the sale, the director owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider owned 1,300 shares in the company, valued at $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $5,254,950. Insiders own 14.60% of the company’s stock.

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.