SEI Investments (SEIC) Stake Decreased by Westpac Banking Corp

Westpac Banking Corp cut its position in shares of SEI Investments (NASDAQ:SEIC) by 25.8% during the 3rd quarter, Holdings Channel reports. The firm owned 10,940 shares of the asset manager’s stock after selling 3,798 shares during the quarter. Westpac Banking Corp’s holdings in SEI Investments were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Standard Life Aberdeen plc increased its stake in shares of SEI Investments by 15.7% during the 2nd quarter. Standard Life Aberdeen plc now owns 53,030 shares of the asset manager’s stock worth $3,316,000 after purchasing an additional 7,205 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of SEI Investments by 30.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,674 shares of the asset manager’s stock worth $70,940,000 after purchasing an additional 268,000 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of SEI Investments by 45.7% during the 2nd quarter. SG Americas Securities LLC now owns 83,162 shares of the asset manager’s stock worth $5,199,000 after purchasing an additional 26,089 shares during the last quarter. Arizona State Retirement System increased its stake in shares of SEI Investments by 2.7% during the 3rd quarter. Arizona State Retirement System now owns 93,538 shares of the asset manager’s stock worth $5,715,000 after purchasing an additional 2,442 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of SEI Investments by 676.0% during the 2nd quarter. Schroder Investment Management Group now owns 19,634 shares of the asset manager’s stock worth $1,233,000 after purchasing an additional 17,104 shares during the last quarter. Institutional investors own 69.31% of the company’s stock.

Several research firms have recently weighed in on SEIC. Keefe, Bruyette & Woods upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $68.00 to $63.00 in a research note on Wednesday, October 24th. Zacks Investment Research lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. BidaskClub upgraded shares of SEI Investments from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. Finally, ValuEngine lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.60.

Shares of SEIC stock opened at $53.99 on Tuesday. The stock has a market cap of $8.35 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.40 and a beta of 1.21. SEI Investments has a 52 week low of $50.86 and a 52 week high of $78.35.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Tuesday, October 23rd. The asset manager reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The business had revenue of $408.68 million during the quarter, compared to the consensus estimate of $410.35 million. SEI Investments had a net margin of 31.46% and a return on equity of 30.73%. SEI Investments’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, analysts forecast that SEI Investments will post 3.19 earnings per share for the current fiscal year.

In related news, insider Dennis Mcgonigle sold 15,000 shares of SEI Investments stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $62.83, for a total transaction of $942,450.00. Following the completion of the sale, the insider now owns 27,540 shares of the company’s stock, valued at approximately $1,730,338.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alfred P. West, Jr. sold 145,238 shares of SEI Investments stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $52.76, for a total transaction of $7,662,756.88. Following the sale, the insider now directly owns 10,386,713 shares of the company’s stock, valued at approximately $548,002,977.88. The disclosure for this sale can be found here. Insiders have sold a total of 506,226 shares of company stock valued at $27,055,545 in the last ninety days. 17.30% of the stock is currently owned by insiders.

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About SEI Investments

SEI Investments Co 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.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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