Crestwood Advisors Group LLC decreased its position in SEI Investments (NASDAQ:SEIC) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,494 shares of the asset manager’s stock after selling 1,358 shares during the period. Crestwood Advisors Group LLC owned 0.21% of SEI Investments worth $17,212,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in SEI Investments by 10.1% in the third quarter. US Bancorp DE now owns 2,208 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 203 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of SEI Investments by 1.6% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 14,868 shares of the asset manager’s stock valued at $754,000 after purchasing an additional 231 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of SEI Investments by 3.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,492 shares of the asset manager’s stock worth $373,000 after purchasing an additional 233 shares during the period. Smithfield Trust Co. increased its position in shares of SEI Investments by 39.8% during the 3rd quarter. Smithfield Trust Co. now owns 1,195 shares of the asset manager’s stock worth $60,000 after purchasing an additional 340 shares during the last quarter. Finally, Column Capital Advisors LLC raised its holdings in SEI Investments by 28.4% in the 3rd quarter. Column Capital Advisors LLC now owns 1,746 shares of the asset manager’s stock valued at $89,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
In related news, major shareholder Alfred P. West, Jr. sold 119,391 shares of the stock in a transaction on Monday, November 30th. The stock was sold at an average price of $53.40, for a total value of $6,375,479.40. Following the transaction, the insider now owns 9,362,586 shares of the company’s stock, valued at $499,962,092.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Meyer sold 7,000 shares of the company’s stock in a transaction on Friday, December 11th. The shares were sold at an average price of $56.33, for a total transaction of $394,310.00. Following the completion of the transaction, the executive vice president now owns 148,224 shares of the company’s stock, valued at approximately $8,349,457.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,385 shares of company stock worth $12,557,734. 23.86% of the stock is owned by corporate insiders.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Tuesday, January 26th. The asset manager reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.06. The firm had revenue of $443.72 million during the quarter, compared to analysts’ expectations of $435.34 million. SEI Investments had a return on equity of 26.05% and a net margin of 27.06%. SEI Investments’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, equities analysts predict that SEI Investments will post 2.94 earnings per share for the current year.
A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of SEI Investments in a research report on Wednesday, January 6th. They set a “buy” rating and a $70.50 price target for the company. Raymond James reissued a “hold” rating on shares of SEI Investments in a research report on Monday, January 11th. TheStreet upgraded SEI Investments from a “c+” rating to a “b-” rating in a research note on Friday, November 27th. Morgan Stanley lifted their price objective on SEI Investments from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, January 28th. Finally, Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Friday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $62.90.
SEI Investments Company Profile
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.
Further Reading: Recession
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