Azora Capital LP acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 443,189 shares of the asset manager's stock, valued at approximately $38,872,000. SEI Investments accounts for about 1.6% of Azora Capital LP's portfolio, making the stock its 23rd largest holding. Azora Capital LP owned approximately 0.37% of SEI Investments as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of SEI Investments in the 2nd quarter worth approximately $870,745,000. Bank of America Corp DE boosted its stake in SEI Investments by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock valued at $284,015,000 after buying an additional 133,057 shares in the last quarter. Geode Capital Management LLC grew its position in SEI Investments by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock valued at $237,421,000 after acquiring an additional 109,974 shares during the period. Lord Abbett & CO. LLC raised its stake in SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock worth $157,263,000 after acquiring an additional 308,988 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager's stock worth $146,984,000 after acquiring an additional 20,054 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.
SEI Investments Stock Down 0.2%
NASDAQ:SEIC opened at $110.78 on Thursday. The stock's fifty day moving average price is $99.21 and its two-hundred day moving average price is $89.32. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $111.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 19.54 and a beta of 0.96.
SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. On average, analysts anticipate that SEI Investments Company will post 6.2 EPS for the current year.
Insider Activity
In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company's stock, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Philip Mccabe sold 5,043 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total transaction of $532,036.50. Following the transaction, the insider owned 54,884 shares in the company, valued at approximately $5,790,262. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 142,332 shares of company stock worth $13,745,813. Corporate insiders own 4.80% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Zacks Research cut shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 21st. UBS Group restated a "buy" rating and issued a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, SEI Investments currently has an average rating of "Moderate Buy" and an average price target of $122.60.
Get Our Latest Analysis on SEI Investments
About SEI Investments
(
Free Report)
SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.
The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.
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