SEI Investments Company $SEIC Shares Acquired by Amundi

Key Points

• Amundi has significantly increased its stake in SEI Investments Company by 228.2% during the first quarter, now owning 782,035 shares valued at approximately $57.47 million.
• In addition to Amundi, other investors like Versant Capital Management and Cullen Frost Bankers have also enhanced their holdings in SEI Investments, reflecting strong institutional interest with 70.59% of shares held by institutional investors.
• SEI Investments reported strong financial performance for the last quarter, with earnings per share (EPS) of $1.78, surpassing estimates, and year-over-year revenue growth of 7.8% to $559.60 million.

Amundi grew its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 228.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 782,035 shares of the asset manager's stock after buying an additional 543,753 shares during the quarter. Amundi owned 0.63% of SEI Investments worth $57,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SEIC. Lord Abbett & CO. LLC acquired a new position in SEI Investments in the 1st quarter worth about $51,773,000. GAMMA Investing LLC raised its holdings in SEI Investments by 9,563.5% in the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after purchasing an additional 465,646 shares during the period. Azora Capital LP acquired a new position in SEI Investments in the 1st quarter worth about $28,852,000. Nuveen LLC acquired a new position in SEI Investments in the 1st quarter worth about $21,407,000. Finally, Royal Bank of Canada raised its holdings in SEI Investments by 61.7% in the 1st quarter. Royal Bank of Canada now owns 625,919 shares of the asset manager's stock worth $48,589,000 after purchasing an additional 238,721 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SEIC shares. Morgan Stanley reaffirmed 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. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Oppenheimer boosted 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. Piper Sandler reduced their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a 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 report 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. According to data from MarketBeat.com, SEI Investments currently has an average rating of "Hold" and a consensus price target of $102.00.

SEI Investments Stock Performance

Shares of SEIC stock traded up $0.48 during trading hours on Thursday, reaching $87.36. The company had a trading volume of 229,337 shares, compared to its average volume of 828,261. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.31 and a beta of 0.98. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The stock has a fifty day moving average of $89.52 and a 200-day moving average of $82.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 EPS. On average, analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was 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 in the company, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.60% of the company's stock.

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.