Harrell Investment Partners LLC Makes New $812,000 Investment in SEI Investments Company $SEIC

Key Points

• Harrell Investment Partners LLC made a new investment of approximately $812,000 in SEI Investments Company, acquiring 9,032 shares during the second quarter.
• SEI Investments reported a quarterly earnings per share of $1.78, significantly exceeding analysts' expectations of $1.18, and achieved a revenue of $559.60 million.
• Several institutional investors grew their stakes in SEI Investments, with hedge funds holding 70.59% of the company's stock, indicating strong institutional interest.

Harrell Investment Partners LLC bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,032 shares of the asset manager's stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SEIC. Bison Wealth LLC purchased a new stake in shares of SEI Investments in the fourth quarter valued at about $207,000. Cetera Investment Advisers boosted its holdings in shares of SEI Investments by 5.8% in the fourth quarter. Cetera Investment Advisers now owns 5,218 shares of the asset manager's stock valued at $430,000 after acquiring an additional 285 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of SEI Investments in the fourth quarter valued at about $5,917,000. Siemens Fonds Invest GmbH purchased a new stake in shares of SEI Investments in the fourth quarter valued at about $435,000. Finally, Northstar Financial Companies Inc. purchased a new stake in shares of SEI Investments in the fourth quarter valued at about $300,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 0.2%

Shares of SEIC opened at $85.97 on Thursday. The stock has a market cap of $10.63 billion, a P/E ratio of 16.13, a PEG ratio of 1.31 and a beta of 0.98. The company has a 50-day moving average of $88.34 and a two-hundred day moving average of $83.55. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. The company had revenue of $559.60 million during the quarter, compared to analysts' expectations 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 in the previous year, the business posted $1.05 earnings per share. As a group, analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several analyst reports. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 price objective (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Piper Sandler decreased their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Finally, Oppenheimer boosted their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $105.00.

Insiders Place Their Bets

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Tuesday, July 29th. The stock was 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 of the company's stock, valued at approximately $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock worth $4,398,350. 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.

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