Acadian Asset Management LLC Lowers Stock Holdings 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 lowered its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings 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 worth $41,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc increased its position in shares of 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 during the period. First Horizon Advisors Inc. raised its stake in shares of SEI Investments by 38.9% during the first 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 in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after purchasing an additional 681 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in SEI Investments by 1,563.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after purchasing an additional 1,282 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SEIC. Morgan Stanley restated an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. 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 research report on Thursday, July 24th. Raymond James Financial upped 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. Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Oppenheimer boosted their target price 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. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $102.00.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following 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 disclosure for this sale can be found here. 14.30% of the stock is owned by corporate insiders.

SEI Investments Trading Down 0.3%

Shares of NASDAQ:SEIC traded down $0.30 on Wednesday, hitting $86.92. 156,038 shares of the company were exchanged, compared to its average volume of 822,293. The firm has a market capitalization of $10.74 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98. The stock's 50 day moving average price is $89.06 and its 200 day moving average price is $83.19. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results 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 business 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 company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments 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.