Papp L Roy & Associates Lowers Position in SEI Investments (SEIC)
Papp L Roy & Associates lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,752 shares of the asset manager’s stock after selling 1,446 shares during the quarter. Papp L Roy & Associates’ holdings in SEI Investments were worth $1,084,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. Barings LLC purchased a new stake in SEI Investments in the 1st quarter valued at approximately $223,000. Great West Life Assurance Co. Can boosted its holdings in SEI Investments by 10.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 188,182 shares of the asset manager’s stock valued at $9,821,000 after purchasing an additional 17,571 shares in the last quarter. National Asset Management Inc. purchased a new stake in SEI Investments in the 1st quarter valued at approximately $227,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in SEI Investments by 83.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 159,102 shares of the asset manager’s stock valued at $8,313,000 after purchasing an additional 72,197 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in SEI Investments by 32.2% in the 1st quarter. TD Asset Management Inc. now owns 7,678 shares of the asset manager’s stock valued at $401,000 after purchasing an additional 1,871 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SEIC stock traded down $0.93 during midday trading on Thursday, reaching $51.43. 858 shares of the company traded hands, compared to its average volume of 718,117. SEI Investments has a 1-year low of $42.27 and a 1-year high of $69.44. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.38 and a beta of 1.24.
In related news, Director Sarah Blumenstein sold 5,000 shares of SEI Investments stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $51.96, for a total transaction of $259,800.00. Following the completion of the transaction, the director now directly owns 10,681 shares in the company, valued at approximately $554,984.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wayne Withrow sold 13,988 shares of SEI Investments stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $52.68, for a total value of $736,887.84. Following the transaction, the executive vice president now owns 45,702 shares of the company’s stock, valued at $2,407,581.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,603 shares of company stock valued at $15,122,842. Insiders own 22.60% of the company’s stock.
A number of equities research analysts have weighed in on SEIC shares. Zacks Investment Research raised SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods downgraded shares of SEI Investments from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $56.00 to $64.00 in a research report on Sunday, April 14th. BidaskClub upgraded shares of SEI Investments from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 16th. TheStreet upgraded shares of SEI Investments from a “c+” rating to a “b-” rating in a research report on Tuesday, March 12th. Finally, William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.20.
SEI Investments Profile
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.
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