Bayforest Capital Ltd Raises Stock Position in SEI Investments Company $SEIC

Key Points

• Bayforest Capital Ltd increased its stake in SEI Investments by 166.8% in the first quarter, owning over 10,000 shares valued at approximately $778,000.
• Several hedge funds, including Lord Abbett & Co. LLC and Millennium Management LLC, significantly boosted their positions in SEI Investments, reflecting growing confidence in the company's prospects.
• Wall Street analysts have shown optimism, raising target prices for SEI Investments, with an average target now at $102.00 and ratings mixed between Buy and Hold.

Bayforest Capital Ltd boosted its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 166.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,021 shares of the asset manager's stock after acquiring an additional 6,265 shares during the period. Bayforest Capital Ltd's holdings in SEI Investments were worth $778,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SEIC. Versant Capital Management Inc grew its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after acquiring an additional 225 shares in the last quarter. Farther Finance Advisors LLC grew its stake in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in SEI Investments during the first quarter valued at approximately $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. This represents a 16.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on 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. This represents a 79.37% 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.

SEI Investments Trading Down 1.4%

Shares of SEIC traded down $1.27 during mid-day trading on Friday, reaching $86.50. The company's stock had a trading volume of 399,426 shares, compared to its average volume of 592,214. The stock has a market cap of $10.69 billion, a PE ratio of 16.23, a P/E/G ratio of 1.33 and a beta of 0.98. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company's fifty day moving average price is $89.28 and its two-hundred day moving average price is $83.09.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $550.72 million. During the same period in the previous year, the business posted $1.05 EPS. The business's quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.00.

SEI Investments Company Profile

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.