Caisse de depot et placement du Quebec Buys Shares of 1,002,445 SEI Investments Company $SEIC

Caisse de depot et placement du Quebec purchased a new position in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,002,445 shares of the asset manager’s stock, valued at approximately $87,924,000. Caisse de depot et placement du Quebec owned about 0.84% of SEI Investments as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SEIC. Commerce Bank raised its stake in SEI Investments by 1.3% during the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after acquiring an additional 133 shares during the period. Root Financial Partners LLC boosted its stake in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares during the period. Focus Partners Advisor Solutions LLC boosted its stake in SEI Investments by 1.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after acquiring an additional 141 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of SEI Investments by 1.2% during the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock valued at $965,000 after purchasing an additional 149 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SEIC shares. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler increased their target price on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.60.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $110.78 on Thursday. The firm’s 50 day moving average is $99.21 and its two-hundred day moving average is $89.32. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $111.90. The firm has a market capitalization of $13.30 billion, a P/E ratio of 19.54 and a beta of 0.96. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $636.35 million. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. Analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

Insider Activity

In other news, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the transaction, the insider owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total value of $1,031,900.00. Following the transaction, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. This trade represents a 35.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 142,332 shares of company stock worth $13,745,813 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

SEI Investments 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.