Kathmere Capital Management LLC Purchases Shares of 74,022 SEI Investments Company $SEIC

Key Points

• Kathmere Capital Management LLC purchased 74,022 shares of SEI Investments Company, valued at approximately $6.65 million, representing about 0.06% of the company's stock.
• SEI Investments reported a quarterly earnings of $1.78 per share, exceeding the consensus estimate by $0.60, with revenue higher than expected at $559.60 million.
• The stock has experienced mixed analyst ratings, with Oppenheimer raising their target price to $101.00 while Zacks downgraded it from "strong-buy" to "hold."

Kathmere Capital Management LLC purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,022 shares of the asset manager's stock, valued at approximately $6,652,000. Kathmere Capital Management LLC owned about 0.06% of SEI Investments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Novem Group acquired a new stake in shares of SEI Investments during the second quarter worth $1,016,000. Harrell Investment Partners LLC acquired a new position in SEI Investments in the second quarter valued at about $812,000. Public Employees Retirement System of Ohio raised its stake in SEI Investments by 4.0% in the second quarter. Public Employees Retirement System of Ohio now owns 64,909 shares of the asset manager's stock valued at $5,833,000 after purchasing an additional 2,523 shares in the last quarter. Fifth Third Bancorp raised its stake in SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager's stock valued at $118,000 after purchasing an additional 141 shares in the last quarter. Finally, Gries Financial LLC raised its stake in SEI Investments by 6.3% in the second quarter. Gries Financial LLC now owns 29,847 shares of the asset manager's stock valued at $2,682,000 after purchasing an additional 1,773 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 0.7%

NASDAQ:SEIC opened at $85.70 on Friday. The stock has a market cap of $10.59 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.98. The stock's 50-day moving average is $88.03 and its 200-day moving average is $83.70. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on SEIC shares. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their target price on SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Piper Sandler decreased their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.00.

Insider Transactions at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $4,398,350. 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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