SEI Investments Company $SEIC Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in SEI Investments Company (NASDAQ:SEIC) by 45.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,444 shares of the asset manager’s stock after selling 28,157 shares during the period. TD Waterhouse Canada Inc.’s holdings in SEI Investments were worth $3,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SEIC. Fortitude Family Office LLC boosted its position in SEI Investments by 95.1% during the third quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager’s stock worth $25,000 after purchasing an additional 117 shares during the period. Elevation Wealth Partners LLC increased its stake in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares in the last quarter. CX Institutional raised its position 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, Western Wealth Management LLC bought a new stake in shares of SEI Investments in the first quarter valued at approximately $43,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Up 2.3%

Shares of NASDAQ SEIC opened at $107.15 on Wednesday. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The business has a 50-day simple moving average of $106.46 and a two-hundred day simple moving average of $96.50. 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 company has a market cap of $12.86 billion, a P/E ratio of 18.90 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%. The business had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the previous year, the firm earned $1.78 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts anticipate that SEI Investments Company will post 6.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 28,394 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $103.40, for a total transaction of $2,935,939.60. Following the completion of the transaction, the chairman owned 6,790,057 shares of the company’s stock, valued at approximately $702,091,893.80. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip McCabe sold 24,957 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the sale, the insider directly owned 54,884 shares in the company, valued at $5,765,015.36. This trade represents a 31.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 158,777 shares of company stock valued at $16,642,433 in the last three months. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SEIC shares. Keefe, Bruyette & Woods upped their price target 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. UBS Group reiterated a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Raymond James Financial increased their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded SEI Investments from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.83.

SEI Investments Company 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.