Azora Capital LP Buys Shares of 371,665 SEI Investments Company $SEIC

Key Points

• Azora Capital LP purchased 371,665 shares of SEI Investments Company, valued at approximately $28.85 million, constituting about 2.0% of its total portfolio.
• SEI Investments reported an EPS of $1.78 for the last quarter, significantly exceeding analyst expectations of $1.18, with a quarterly revenue of $559.60 million.
• Brokerages have varied opinions on SEI Investments, with price targets set between $93.00 and $118.00 and a prevailing average rating of "Moderate Buy."

Azora Capital LP bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 371,665 shares of the asset manager's stock, valued at approximately $28,852,000. SEI Investments comprises approximately 2.0% of Azora Capital LP's portfolio, making the stock its 16th biggest position. Azora Capital LP owned approximately 0.30% of SEI Investments as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cadence Bank lifted its stake in shares of SEI Investments by 1.2% during the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager's stock valued at $819,000 after buying an additional 121 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in shares of SEI Investments by 3.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock valued at $379,000 after buying an additional 160 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of SEI Investments by 2.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock valued at $435,000 after buying an additional 160 shares in the last quarter. GHE LLC lifted its stake in shares of SEI Investments by 2.0% during the 4th quarter. GHE LLC now owns 9,126 shares of the asset manager's stock valued at $753,000 after buying an additional 183 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of SEI Investments by 8.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock valued at $208,000 after buying an additional 200 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $88.85 on Friday. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The company's fifty day moving average price is $89.59 and its 200-day moving average price is $82.62. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.40 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its 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 company had revenue of $559.60 million for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $1.05 EPS. As a group, equities research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SEIC. Piper Sandler dropped their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Raymond James Financial upped their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Keefe, Bruyette & Woods reaffirmed 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. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the sale, the insider owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 171,260 shares of the company's stock, 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. Company 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.

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