Tandem Investment Advisors Inc. Cuts Position in SEI Investments (NASDAQ:SEIC)

Tandem Investment Advisors Inc. lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 40.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 433,078 shares of the asset manager’s stock after selling 288,192 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in SEI Investments were worth $28,016,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SEIC. Russell Investments Group Ltd. grew its stake in shares of SEI Investments by 34.0% in the fourth quarter. Russell Investments Group Ltd. now owns 94,834 shares of the asset manager’s stock valued at $6,031,000 after buying an additional 24,055 shares in the last quarter. Van ECK Associates Corp increased its stake in SEI Investments by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 66,521 shares of the asset manager’s stock worth $4,228,000 after buying an additional 5,798 shares during the period. Victory Capital Management Inc. grew its stake in shares of SEI Investments by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 127,443 shares of the asset manager’s stock worth $8,099,000 after acquiring an additional 2,934 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of SEI Investments by 81.8% in the fourth quarter. Merit Financial Group LLC now owns 8,615 shares of the asset manager’s stock valued at $548,000 after acquiring an additional 3,877 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of SEI Investments by 11.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,878 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler cut their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.25.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $0.17 during trading hours on Friday, hitting $67.63. The stock had a trading volume of 531,047 shares, compared to its average volume of 394,797. The stock’s fifty day simple moving average is $66.22 and its 200 day simple moving average is $67.24. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, research analysts anticipate that SEI Investments will post 4.2 EPS for the current year.

Insider Activity

In related news, Director William Doran sold 5,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director William Doran sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The disclosure for this sale can be found here. Insiders sold a total of 137,582 shares of company stock worth $9,277,605 over the last 90 days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Company 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.