SEI Investments Company $SEIC Shares Purchased by Bayforest Capital Ltd

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 lifted its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 166.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,021 shares of the asset manager's stock after acquiring an additional 6,265 shares during the quarter. Bayforest Capital Ltd's holdings in SEI Investments were worth $778,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in shares of SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after acquiring an additional 225 shares during the period. Farther Finance Advisors LLC increased its position in shares of SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of 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 worth $106,000 after acquiring an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of SEI Investments during the first quarter worth approximately $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the company'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 transaction, the insider owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This trade represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

SEIC traded up $0.89 during trading on Thursday, hitting $87.77. The stock had a trading volume of 501,893 shares, compared to its average volume of 597,570. The company has a market capitalization of $10.85 billion, a PE ratio of 16.47, a PEG ratio of 1.32 and a beta of 0.98. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a 50 day simple moving average of $89.42 and a two-hundred day simple moving average of $83.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.60. The company had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. On average, equities research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current year.

Analyst Ratings Changes

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