SEI Investments Company $SEIC Shares Sold by Hahn Capital Management LLC

Key Points

• Hahn Capital Management LLC has reduced its holdings in SEI Investments Company by 9.4%, selling 11,947 shares, and now owns 114,963 shares valued at approximately $8.9 million.
• SEI Investments reported a quarterly earnings per share (EPS) of $1.78, surpassing analysts' expectations of $1.18, while revenue increased by 7.8% year-over-year to $559.6 million.
• Insider trading indicates a 79.37% decrease in shares held by insider Mark Andrew Warner, as well as a 16.97% decrease by CEO Ryan Hicke, reflecting a trend among company executives.

Hahn Capital Management LLC cut its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,963 shares of the asset manager's stock after selling 11,947 shares during the period. SEI Investments comprises about 4.3% of Hahn Capital Management LLC's portfolio, making the stock its 8th largest position. Hahn Capital Management LLC owned approximately 0.09% of SEI Investments worth $8,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SEIC. Lord Abbett & CO. LLC acquired a new stake in SEI Investments in the first quarter worth $51,773,000. Millennium Management LLC raised its holdings in shares of SEI Investments by 339.3% during the first 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 period. Amundi raised its holdings in shares of SEI Investments by 228.2% during the first 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 period. GAMMA Investing LLC raised its holdings in shares of SEI Investments by 9,563.5% during the first 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 period. Finally, Azora Capital LP acquired a new stake in shares of SEI Investments during the first quarter worth $28,852,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.10 during mid-day trading on Monday, hitting $86.60. The stock had a trading volume of 654,021 shares, compared to its average volume of 826,453. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.31 and a beta of 0.98. The company's 50 day simple moving average is $89.28 and its 200 day simple moving average is $83.12.

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

Analysts Set New Price Targets

SEIC has been the topic of a number of research analyst reports. Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Raymond James Financial raised their price objective on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and set a $100.00 price objective (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Piper Sandler decreased their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, SEI Investments has an average rating of "Hold" and an average target price of $102.00.

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,300 shares in the company, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer 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.

SEI Investments 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.