Ifrah Financial Services Inc. Buys 10,915 Shares of SEI Investments Company $SEIC

Key Points

• Ifrah Financial Services initiated a position in SEI Investments by purchasing 10,915 shares worth approximately $1.12 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments reported quarterly earnings of $1.66 per share, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $123.67, above the stock’s reported price of $105.51.

Ifrah Financial Services Inc. bought a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,915 shares of the asset manager's stock, valued at approximately $1,120,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its holdings in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock valued at $27,000 after purchasing an additional 152 shares during the period. Root Financial Partners LLC raised its stake in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock worth $38,000 after purchasing an additional 141 shares during the last quarter. CX Institutional raised its stake in shares of SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager's stock worth $47,000 after purchasing an additional 164 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of SEI Investments in the first quarter worth about $43,000. Finally, Caitlin John LLC acquired a new stake in shares of SEI Investments during the second quarter worth about $56,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Up 0.5%

SEI Investments stock opened at $105.51 on Wednesday. The firm has a market cap of $12.66 billion, a PE ratio of 18.61 and a beta of 0.97. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15. The stock's 50 day simple moving average is $106.39 and its two-hundred day simple moving average is $95.51. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the firm earned $1.78 EPS. The business's quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that SEI Investments Company will post 6.21 earnings per share for the current year.

Insider Activity at SEI Investments

In related news, Director Kathryn McCarthy sold 10,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the sale, the director owned 77,883 shares in the company, valued at approximately $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Lane sold 2,400 shares of SEI Investments stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total transaction of $246,672.00. Following the completion of the transaction, the executive vice president directly owned 39,581 shares of the company's stock, valued at $4,068,135.18. The trade was a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 158,777 shares of company stock valued at $16,642,433 in the last quarter. 4.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SEIC. William Blair upgraded SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Wells Fargo & Company began coverage on shares of SEI Investments in a research report on Friday, October 2nd. They set an "overweight" rating and a $129.00 price target for the company. Weiss Ratings upgraded shares of SEI Investments from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Friday, August 21st. Finally, UBS Group reaffirmed a "buy" rating and issued a $125.00 price objective on shares of SEI Investments in a report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.67.

SEI Investments Profile

SEI Investments Company NASDAQ: SEIC is a global provider of investment processing, management, and operations solutions. The company serves financial institutions, wealth managers, asset managers, investment managers, and institutional investors through technology-enabled platforms and outsourced services.

Its offerings include investment accounting, fund administration, portfolio management, compliance support, wealth management technology, and data and analytics solutions. SEI also provides investment strategies and manages assets for institutions, advisors, and private clients through its investment management business.

Founded in 1968 by Alfred P.

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