Ascent Group LLC Buys 28,241 Shares of SEI Investments Company $SEIC

Key Points

• Ascent Group LLC increased its stake in SEI Investments by 135.4%, owning 49,106 shares valued at approximately $3.81 million as of the latest SEC filing.
• SEI Investments reported earnings of $1.78 EPS for the last quarter, significantly exceeding the consensus estimate, and recorded a 7.8% revenue increase year-over-year.
• Stock analysts maintain a mixed outlook on SEI Investments, with an average rating of "Hold" and an average target price of $102.00.

Ascent Group LLC increased its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 135.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,106 shares of the asset manager's stock after acquiring an additional 28,241 shares during the period. Ascent Group LLC's holdings in SEI Investments were worth $3,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEIC. Lord Abbett & CO. LLC bought a new stake in SEI Investments during the 1st quarter worth $51,773,000. Millennium Management LLC grew its position in SEI Investments by 339.3% during the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock worth $60,832,000 after acquiring an additional 605,252 shares during the last quarter. Amundi grew its position in SEI Investments by 228.2% during the 1st quarter. Amundi now owns 782,035 shares of the asset manager's stock worth $57,472,000 after acquiring an additional 543,753 shares during the last quarter. GAMMA Investing LLC grew its position in SEI Investments by 9,563.5% during the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after acquiring an additional 465,646 shares during the last quarter. Finally, Azora Capital LP bought a new stake in SEI Investments during the 1st quarter worth $28,852,000. Institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $0.89 during midday trading on Thursday, reaching $87.77. The company's stock had a trading volume of 501,893 shares, compared to its average volume of 597,570. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.32 and a beta of 0.98. The firm has a 50 day moving average price of $89.42 and a two-hundred day moving average price of $83.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS 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 business had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. During the same period in the previous year, the company posted $1.05 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SEIC shares. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Raymond James Financial lifted their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Oppenheimer lifted their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, SEI Investments presently has a consensus rating of "Hold" and an average price target of $102.00.

Insider Transactions at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the business's 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 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 sale 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 business's stock in a transaction dated Tuesday, August 19th. The shares were 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 of the company's stock, valued at $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 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.