Acadian Asset Management LLC Has $19.48 Million Stake in SEI Investments Company $SEIC

Key Points

• Acadian Asset Management LLC reduced its stake in SEI Investments Company by 28.4%, owning 251,081 shares worth approximately $19.48 million as of the latest reporting period.
• Other institutional investors, including Geneos Wealth Management Inc. and Cullen Frost Bankers Inc., have significantly increased their stakes in SEI Investments, indicating strong interest from large investors.
• SEI Investments reported earnings of $1.78 per share for the latest quarter, exceeding analysts' expectations and marking a 7.8% revenue increase from the same period last year.

Acadian Asset Management LLC trimmed its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,081 shares of the asset manager's stock after selling 99,664 shares during the quarter. Acadian Asset Management LLC owned 0.20% of SEI Investments worth $19,484,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc raised its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. raised its stake in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after acquiring an additional 225 shares in the last quarter. Farther Finance Advisors LLC raised its stake in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $87.77 on Friday. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The firm has a market cap of $10.85 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The business has a fifty day moving average of $89.42 and a 200-day moving average of $83.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced 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. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. During the same period last year, the company posted $1.05 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

SEIC has been the subject of several recent analyst reports. Oppenheimer increased their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Raymond James Financial increased their price objective on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Piper Sandler dropped their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $102.00.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated 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 sale, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.60% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.