Jupiter Topco LLC Buys New Shares in SEI Investments Company $SEIC

Jupiter Topco LLC bought a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 45,122 shares of the asset manager’s stock, valued at approximately $3,958,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. BlackRock Inc. acquired a new position in SEI Investments in the 2nd quarter valued at approximately $870,745,000. Bank of America Corp DE grew its holdings in shares of SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after purchasing an additional 133,057 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after purchasing an additional 308,988 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of SEI Investments by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after purchasing an additional 20,054 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Down 1.3%

SEIC opened at $109.54 on Wednesday. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 19.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The firm’s 50-day simple moving average is $100.89 and its 200-day simple moving average is $90.11. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. The firm had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. Equities research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

Analysts Set New Price Targets

SEIC has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Raymond James Financial increased their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Zacks Research cut shares of 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. According to MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and an average price target of $122.60.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 in the company, valued at approximately $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the transaction, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. The trade was a 35.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 142,332 shares of company stock valued at $13,745,813. Insiders own 4.80% of the company’s stock.

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.