Allstate Corp Acquires 15,125 Shares of SEI Investments Company $SEIC

Key Points

• Allstate Corp has significantly increased its stake in SEI Investments Company by 578.6% during the first quarter, resulting in holdings valued at approximately $1.38 million.
• SEI Investments recently reported quarterly earnings that exceeded estimates, with earnings per share of $1.78, and announced an increase in its quarterly dividend to $0.49 per share.
• Wall Street analysts have mixed ratings on SEI Investments, with a consensus rating of “Moderate Buy” and a target price of around $102.00, despite varying price targets from different firms.

Allstate Corp raised its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 578.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,739 shares of the asset manager's stock after purchasing an additional 15,125 shares during the period. Allstate Corp's holdings in SEI Investments were worth $1,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. Lord Abbett & CO. LLC bought a new stake in SEI Investments in the first quarter valued at $51,773,000. GAMMA Investing LLC increased its stake in SEI Investments by 9,563.5% in the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after purchasing an additional 465,646 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in SEI Investments by 108.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 532,336 shares of the asset manager's stock valued at $43,907,000 after purchasing an additional 277,252 shares in the last quarter. Nuveen LLC bought a new stake in SEI Investments in the first quarter valued at $21,407,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SEI Investments by 38.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock valued at $62,358,000 after purchasing an additional 209,850 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Up 0.2%

SEIC stock traded up $0.19 during trading on Wednesday, reaching $90.52. The stock had a trading volume of 609,015 shares, compared to its average volume of 840,153. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The company's 50 day moving average is $89.33 and its two-hundred day moving average is $82.54. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.39 and a beta of 0.95.

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

Analysts Set New Price Targets

SEIC has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. 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. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. 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 research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the transaction, the chairman directly owned 6,937,582 shares in the company, valued at $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,126 shares of company stock worth $9,107,349 over the last three months. 14.30% of the stock is currently owned by insiders.

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.