12,758 Shares in SEI Investments Company $SEIC Bought by FORA Capital LLC

Key Points

• FORA Capital LLC has acquired 12,758 shares of SEI Investments Company, valued at approximately $990,000, marking a new position in the firm.
• Institutional investors hold a significant portion of SEI Investments, with a total ownership of 70.59% of the company's stock.
• SEI Investments reported an earnings per share (EPS) of $1.78 for the last quarter, surpassing analysts' estimates and indicating a strong revenue growth of 7.8% year-over-year.

FORA Capital LLC bought a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,758 shares of the asset manager's stock, valued at approximately $990,000.

A number of other institutional investors have also recently added to or reduced their stakes in SEIC. Versant Capital Management Inc lifted its position in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the period. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after acquiring an additional 225 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SEI Investments in the 1st quarter valued at about $132,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.60% of the company's stock.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 price target (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Piper Sandler cut their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Oppenheimer upped their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.00.

SEI Investments Stock Down 0.6%

Shares of SEIC traded down $0.57 during trading hours on Friday, reaching $88.28. The company's stock had a trading volume of 703,792 shares, compared to its average volume of 588,419. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The company has a 50 day moving average of $89.69 and a two-hundred day moving average of $82.66.

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

About SEI Investments

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.