Royal Bank Cuts Stake in SEI Investments

Royal Bank of Canada significantly reduced its position in SEI Investments Company (NASDAQ:SEIC) shares by selling 194,524 shares during the first quarter.

The institutional investor owned approximately 416,650 shares of the asset manager's stock after the sale and held about 0.35% of SEI Investments worth $32,694,000 as of its most recent SEC filing.

SEI Investments' share price opened at $104.19 on Tuesday, with a market cap of $12.50 billion, a P/E ratio of 18.38 and a beta of 0.96.