111 Capital Purchases New Shares in SEI Investments Company $SEIC

Key Points

• 111 Capital has acquired a new position in SEI Investments Company, purchasing 10,467 shares valued at approximately $941,000 during the second quarter.
• SEI Investments reported a second quarter EPS of $1.78, exceeding the analyst estimate of $1.18, with revenues reaching $559.60 million.
• Insider trading indicated significant selling activity, with CEO Ryan Hicke selling 35,000 shares, reducing his ownership by 16.97%.

111 Capital acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,467 shares of the asset manager's stock, valued at approximately $941,000.

A number of other institutional investors have also recently bought and sold shares of the business. Cadence Bank boosted its position in SEI Investments by 1.2% during the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager's stock worth $819,000 after acquiring an additional 121 shares during the period. Fifth Third Bancorp boosted its position in SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager's stock worth $118,000 after acquiring an additional 141 shares during the period. Concurrent Investment Advisors LLC boosted its position in SEI Investments by 2.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock worth $435,000 after acquiring an additional 160 shares during the period. Clark Capital Management Group Inc. boosted its position in SEI Investments by 1.2% during the 1st quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager's stock worth $1,180,000 after acquiring an additional 183 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in SEI Investments by 8.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock worth $208,000 after acquiring an additional 200 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC stock opened at $85.62 on Friday. The stock's fifty day simple moving average is $87.50 and its 200 day simple moving average is $84.13. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.30 and a beta of 0.96. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.SEI Investments's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the sale, the chief executive officer owned 171,260 shares of the company's stock, valued at $15,122,258. The trade was a 16.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $5,254,950 in the last quarter. Corporate insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

SEIC has been the subject of several research reports. Piper Sandler reduced their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial lifted their price target on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Finally, Morgan Stanley lifted their price target on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, SEI Investments currently has an average rating of "Moderate Buy" and a consensus target price of $105.00.

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.

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