Applied Finance Capital Management LLC Acquires New Position in SEI Investments Company $SEIC

Key Points

• Applied Finance Capital Management LLC established a new position in SEI Investments Company, acquiring 3,238 shares valued at approximately $291,000 during the second quarter.
• Several institutional investors have increased their positions in SEI Investments, with hedge funds and other institutions now holding 70.59% of the company's stock.
• Analysts have mixed views on SEI Investments' stock, with target prices ranging from $93.00 to $115.00, resulting in a consensus rating of "Moderate Buy."

Applied Finance Capital Management LLC bought a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,238 shares of the asset manager's stock, valued at approximately $291,000.

A number of other large investors have also made changes to their positions in SEIC. Geneos Wealth Management Inc. lifted its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after buying an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of SEI Investments during the 2nd quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of SEI Investments by 252.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock valued at $46,000 after purchasing an additional 363 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the period. Finally, Farther Finance Advisors LLC grew 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. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Morgan Stanley raised their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Zacks Research upgraded SEI Investments from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Keefe, Bruyette & Woods lowered their price objective on SEI Investments from $98.00 to $93.00 and set a "market perform" rating for the company in a research report on Monday, October 13th. Finally, Oppenheimer increased their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, SEI Investments currently has a consensus rating of "Moderate Buy" and an average target price of $104.40.

Insider Activity at SEI Investments

In other news, Director Carl Guarino sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares in the company, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock valued at $5,254,950. 14.60% of the stock is owned by insiders.

SEI Investments Stock Performance

Shares of SEIC stock opened at $80.79 on Friday. The firm's 50 day moving average price is $86.52 and its 200-day moving average price is $84.52. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The firm has a market cap of $9.99 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.22 and a beta of 0.96.

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

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