Freestone Grove Partners LP Buys New Shares in SEI Investments Company $SEIC

Freestone Grove Partners LP bought a new position in SEI Investments Company (NASDAQ:SEIC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,603 shares of the asset manager’s stock, valued at approximately $579,000.

Other hedge funds have also added to or reduced their stakes in the company. Oxbow Advisors LLC purchased a new position in SEI Investments in the 1st quarter worth approximately $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of SEI Investments during the fourth quarter valued at approximately $3,217,000. Lazard Asset Management LLC boosted its stake in shares of SEI Investments by 85.2% during the first quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 17,504 shares during the period. King Luther Capital Management Corp grew its holdings in shares of SEI Investments by 10.2% in the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock worth $11,273,000 after purchasing an additional 12,713 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SEI Investments in the first quarter worth $3,625,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $111.63 on Monday. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $100.09 and its 200 day simple moving average is $89.70. The stock has a market cap of $13.40 billion, a P/E ratio of 19.69 and a beta of 0.96. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same period in the prior year, the business earned $1.78 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, research analysts predict that SEI Investments Company will post 6.2 EPS for the current year.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip Mccabe sold 24,957 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the completion of the transaction, the insider directly owned 54,884 shares of the company’s stock, valued at approximately $5,765,015.36. The trade was a 31.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 142,332 shares of company stock valued at $13,745,813 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Raymond James Financial upped their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. UBS Group restated a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Morgan Stanley boosted their price target on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.60.

About SEI Investments

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.