11,305 Shares in SEI Investments Company $SEIC Bought by Novem Group

Key Points

• Novem Group has acquired a new stake in SEI Investments Company, purchasing 11,305 shares valued at approximately $1,016,000.
• SEI Investments reported $1.78 earnings per share for its latest quarter, exceeding the consensus estimate of $1.18.
• Institutional investors and hedge funds now own a combined 70.59% of SEI Investments' stock, reflecting significant interest from these entities.

Novem Group bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,305 shares of the asset manager's stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SEIC. Lord Abbett & CO. LLC acquired a new stake in shares of SEI Investments in the 1st quarter worth about $51,773,000. Millennium Management LLC grew its position in SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock worth $60,832,000 after purchasing an additional 605,252 shares during the last quarter. Amundi raised its holdings in shares of SEI Investments by 228.2% during the first quarter. Amundi now owns 782,035 shares of the asset manager's stock valued at $57,472,000 after buying an additional 543,753 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after buying an additional 465,646 shares during the last quarter. Finally, Azora Capital LP acquired a new position in shares of SEI Investments during the first quarter worth approximately $28,852,000. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Down 1.0%

Shares of SEI Investments stock opened at $85.10 on Friday. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The stock has a market cap of $10.52 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. The company's 50-day moving average price is $88.18 and its two-hundred day moving average price is $83.62.

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

Insider Buying and Selling

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,000 shares of company stock worth $4,398,350. Corporate insiders own 14.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SEIC shares. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Raymond James Financial raised 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. Oppenheimer upped their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Piper Sandler decreased their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of "Hold" and a consensus price target 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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