Inspire Investing LLC Acquires 7,291 Shares of SEI Investments Company $SEIC

Key Points

• Inspire Investing LLC acquired an additional 7,291 shares of SEI Investments Company, increasing their stake by 25.9% to a total of 35,391 shares, valued at approximately $3.18 million.
• SEI Investments reported a quarterly EPS of $1.78, significantly surpassing analysts' expectations of $1.18, as revenues rose 7.8% year-over-year.
• Recent analyst ratings for SEI Investments show a consensus of "Moderate Buy" with an average price target of $105.00, indicating a positive market outlook.

Inspire Investing LLC lifted its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 25.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,391 shares of the asset manager's stock after acquiring an additional 7,291 shares during the quarter. Inspire Investing LLC's holdings in SEI Investments were worth $3,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SEIC. Lord Abbett & CO. LLC acquired a new stake in shares of SEI Investments during the 1st quarter valued at $51,773,000. Millennium Management LLC boosted its holdings in shares of SEI Investments by 339.3% during the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock valued at $60,832,000 after acquiring an additional 605,252 shares in the last quarter. Amundi boosted its holdings in shares of SEI Investments by 228.2% during the 1st quarter. Amundi now owns 782,035 shares of the asset manager's stock valued at $57,472,000 after acquiring an additional 543,753 shares in the last quarter. Azora Capital LP acquired a new stake in shares of SEI Investments during the 1st quarter valued at $28,852,000. Finally, Nuveen LLC acquired a new stake in shares of SEI Investments during the 1st quarter valued at $21,407,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Analysts Set New Price Targets

SEIC has been the topic of several recent research reports. Raymond James Financial raised their price objective on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Wednesday. Morgan Stanley upped their price target on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Finally, Oppenheimer upped their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.00.

SEI Investments Stock Performance

SEIC stock opened at $81.22 on Friday. The stock's 50 day simple moving average is $87.10 and its 200 day simple moving average is $84.33. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a market cap of $10.04 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.96.

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

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 35,000 shares of the business'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 completion of the sale, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the sale, the director directly owned 16,042 shares of the company's stock, valued at $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,000 shares of company stock valued at $5,254,950. Company insiders own 14.60% of the company's stock.

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.

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