Readystate Asset Management LP Buys Shares of 18,797 SEI Investments Company $SEIC

Readystate Asset Management LP purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,797 shares of the asset manager’s stock, valued at approximately $1,649,000.

Other hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC increased its holdings in shares of SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares during the period. CIBC Private Wealth Group LLC boosted its stake in SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC grew its position in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the last quarter. CX Institutional increased its stake in shares of SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 164 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SEIC. Piper Sandler raised their target price on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Raymond James Financial lifted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, UBS Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.60.

Insider Buying and Selling at SEI Investments

In related news, Director Kathryn McCarthy sold 10,000 shares of SEI Investments stock in a transaction 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 of the company’s stock, valued at approximately $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the sale, the insider owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 142,332 shares of company stock worth $13,745,813 over the last 90 days. 4.80% of the stock is currently owned by insiders.

SEI Investments Price Performance

SEIC opened at $110.39 on Tuesday. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $112.15. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $13.25 billion, a P/E ratio of 19.47 and a beta of 0.97. The stock has a fifty day moving average of $102.70 and a 200-day moving average of $91.01.

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

SEI Investments 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.