Principal Financial Group Inc. Boosts Holdings in SEI Investments (NASDAQ:SEIC)

Principal Financial Group Inc. grew its position in SEI Investments (NASDAQ:SEICGet Rating) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,562 shares of the asset manager’s stock after buying an additional 41,859 shares during the period. Principal Financial Group Inc.’s holdings in SEI Investments were worth $22,341,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new position in shares of SEI Investments during the 1st quarter worth approximately $36,000. Quadrant Capital Group LLC boosted its position in shares of SEI Investments by 104.6% during the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after purchasing an additional 431 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of SEI Investments during the 2nd quarter worth approximately $70,000. Steward Partners Investment Advisory LLC boosted its position in shares of SEI Investments by 11.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,795 shares of the asset manager’s stock worth $97,000 after purchasing an additional 189 shares during the period. Finally, Signaturefd LLC boosted its position in shares of SEI Investments by 150.6% during the 1st quarter. Signaturefd LLC now owns 2,133 shares of the asset manager’s stock worth $128,000 after purchasing an additional 1,282 shares during the period. Hedge funds and other institutional investors own 70.50% of the company’s stock.

SEI Investments Trading Up 0.2 %

Shares of SEIC opened at $60.90 on Monday. SEI Investments has a twelve month low of $46.30 and a twelve month high of $64.36. The firm’s fifty day simple moving average is $52.91 and its 200-day simple moving average is $54.38. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.36 and a beta of 0.99.

Insider Buying and Selling

In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 83,386 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the transaction, the insider now directly owns 9,136,792 shares of the company’s stock, valued at approximately $503,163,135.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Alfred P. West, Jr. sold 83,386 shares of SEI Investments stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $55.07, for a total value of $4,592,067.02. Following the sale, the insider now owns 9,136,792 shares of the company’s stock, valued at $503,163,135.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wayne Withrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $54.51, for a total transaction of $817,650.00. Following the completion of the sale, the executive vice president now owns 38,799 shares of the company’s stock, valued at approximately $2,114,933.49. The disclosure for this sale can be found here. 25.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of research analyst reports. William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. Piper Sandler reduced their target price on shares of SEI Investments to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Morgan Stanley reduced their target price on shares of SEI Investments from $52.00 to $51.00 and set an “underweight” rating on the stock in a report on Tuesday, October 4th. Oppenheimer increased their target price on shares of SEI Investments from $59.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, November 16th. Finally, StockNews.com initiated coverage on shares of SEI Investments in a report on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.40.

SEI Investments Company Profile

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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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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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