SEI Investments (NASDAQ: SEIC) continues to face headwinds as institutional holders have decreased their stakes over the last quarter. As of Thursday, October 26, 2023, the total number of institutional holders for SEI decreased by three or 0.35% to 854, with an average portfolio weight dedicated to SEIC at 0.19%, a decrease of 4.15%. Institutional shares total 108,480K, marking a slight decrease of 0.06% over the last three months.
Major stakeholders have shown mixed movements in their holdings. Loomis Sayles & Co L P decreased its stake by 2.85% to hold 9,941K shares or a 7.51% stake, while Beutel, Goodman & Co increased its holding by 2.20% to hold 4,037K shares or a 3.05% stake. Eaton (NYSE:ETN) Vance Atlanta Capital SMID-Cap Fund maintained its holding at 4,260K shares or a 3.22% stake.
Meanwhile, Vanguard Total Stock Market Index Fund Investor Shares and Bank Of America have shown contrasting adjustments in their holdings. Vanguard increased its stake by 0.55% to hold 3,761K shares or a 2.84% stake, while Bank Of America decreased its holding by 6.23% to hold 3,115K shares or a 2.35% stake.
Despite these changes in ownership, Morgan Stanley maintains an Underweight recommendation for SEI Investments with a one-year price target averaging $67.83, indicating a potential upside of 28.22% from the latest closing price of $52.90.
SEI's projected annual revenue is expected to increase by 2.51% to $1,939MM, and its non-GAAP EPS is forecasted at $3.58. SEI's Investment Manager Services, with its award-winning global operating platform, continues to provide advanced infrastructure to investment organizations worldwide, representing nearly $30 trillion in assets through partnerships with over 550 asset managers.
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