SG Americas Securities LLC Sells 9,101 Shares of SEI Investments (NASDAQ:SEIC)

SG Americas Securities LLC decreased its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 41.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,060 shares of the asset manager's stock after selling 9,101 shares during the quarter. SG Americas Securities LLC's holdings in SEI Investments were worth $904,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its position in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Bessemer Group Inc. increased its position in shares of SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager's stock worth $43,000 after purchasing an additional 386 shares in the last quarter. Mather Group LLC. increased its position in shares of SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock worth $50,000 after purchasing an additional 500 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of SEI Investments during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares of the company's stock, valued at $513,745,715.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SEIC. Oppenheimer increased their target price on shares of SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Tuesday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Piper Sandler increased their target price on shares of SEI Investments from $71.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $72.25.

SEI Investments Stock Performance

SEIC traded down $0.58 during midday trading on Friday, hitting $70.10. The company had a trading volume of 606,904 shares, compared to its average volume of 569,798. The company has a market capitalization of $9.21 billion, a PE ratio of 19.15, a P/E/G ratio of 1.40 and a beta of 0.99. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The firm's 50-day simple moving average is $67.44 and its 200-day simple moving average is $67.27.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $518.99 million during the quarter, compared to analysts' expectations of $523.80 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. As a group, sell-side analysts anticipate that SEI Investments will post 4.23 EPS for the current fiscal year.

About SEI Investments

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.