Interval Partners LP Raises Stock Position in SEI Investments Company $SEIC

Key Points

• Interval Partners LP increased its stake in SEI Investments Company by 26.4%, owning 252,191 shares valued at approximately $19.58 million following the acquisition of 52,718 additional shares.
• SEI Investments reported $1.78 earnings per share for its last quarter, exceeding expectations and marking a 7.8% increase in revenue year-over-year.
• A significant majority of SEI's stock, approximately 70.59%, is held by hedge funds and institutional investors, indicating strong institutional interest in the company.

Interval Partners LP lifted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 26.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 252,191 shares of the asset manager's stock after purchasing an additional 52,718 shares during the period. Interval Partners LP owned about 0.20% of SEI Investments worth $19,578,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SEIC. Lord Abbett & CO. LLC purchased a new stake in shares of SEI Investments in the 1st quarter worth approximately $51,773,000. Amundi lifted its position in shares of SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager's stock worth $57,472,000 after purchasing an additional 543,753 shares during the period. GAMMA Investing LLC lifted its position in shares of SEI Investments by 9,563.5% in the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after purchasing an additional 465,646 shares during the period. Azora Capital LP purchased a new stake in shares of SEI Investments in the 1st quarter worth approximately $28,852,000. Finally, Nuveen LLC purchased a new stake in shares of SEI Investments in the 1st quarter worth approximately $21,407,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

SEI Investments stock traded down $2.05 during mid-day trading on Friday, reaching $87.17. 783,453 shares of the company traded hands, compared to its average volume of 572,140. 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 capitalization of $10.78 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The firm's fifty day moving average is $89.77 and its two-hundred day moving average is $82.86.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the prior year, the business posted $1.05 EPS. SEI Investments's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research 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, insider Mark Andrew Warner sold 5,000 shares of the company'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 transaction, the insider owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction that occurred on 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 $15,122,258. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer increased their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. 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. Finally, Raymond James Financial increased their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of "Hold" and an average price target of $102.00.

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.