Clark Capital Management Group Inc. Raises Stake in SEI Investments Company $SEIC

Clark Capital Management Group Inc. raised its holdings in SEI Investments Company (NASDAQ:SEIC) by 66.4% during the third quarter, HoldingsChannel reports. The firm owned 26,544 shares of the asset manager’s stock after buying an additional 10,588 shares during the period. Clark Capital Management Group Inc.’s holdings in SEI Investments were worth $2,252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bison Wealth LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth about $207,000. Baird Financial Group Inc. acquired a new position in SEI Investments in the 1st quarter valued at about $201,000. Geneos Wealth Management Inc. raised its stake in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in SEI Investments by 1.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 26,957 shares of the asset manager’s stock valued at $2,422,000 after acquiring an additional 337 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in SEI Investments by 9.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,673 shares of the asset manager’s stock worth $3,565,000 after acquiring an additional 3,428 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

NASDAQ SEIC opened at $78.09 on Tuesday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 13.87 and a beta of 0.96. The business’s 50 day moving average is $83.27 and its two-hundred day moving average is $83.39. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.04). SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. During the same period in the prior year, the business earned $1.19 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the sale, the insider owned 921 shares of the company’s stock, valued at approximately $75,282.54. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $80.23, for a total transaction of $4,412,650.00. Following the sale, the chairman owned 6,883,230 shares in the company, valued at $552,241,542.90. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,447 shares of company stock worth $12,318,659. 14.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SEIC shares. Piper Sandler reiterated an “overweight” rating and issued a $106.00 target price on shares of SEI Investments in a research note on Friday, February 20th. Keefe, Bruyette & Woods upped their price target on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. Morgan Stanley boosted their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, UBS Group assumed coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

SEI Investments Company 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.