Lecap Asset Management Ltd. Has $1.75 Million Stake in SEI Investments Company $SEIC

Key Points

• Lecap Asset Management Ltd. increased its stake in SEI Investments by 208.0% during the 2nd quarter, holding a total of 19,523 shares valued at approximately $1.75 million.
• Institutional investors now control 70.59% of SEI Investments' stock, with several firms such as Harbor Capital Advisors and Thurston Springer Miller significantly increasing their positions.
• SEI Investments reported strong quarterly earnings, with a net margin of 31.25% and earnings per share of $1.78, surpassing analysts' expectations.

Lecap Asset Management Ltd. raised its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 208.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,523 shares of the asset manager's stock after purchasing an additional 13,185 shares during the quarter. Lecap Asset Management Ltd.'s holdings in SEI Investments were worth $1,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEIC. Harbor Capital Advisors Inc. bought a new position in shares of SEI Investments in the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in SEI Investments by 252.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock worth $46,000 after purchasing an additional 363 shares during the period. Geneos Wealth Management Inc. grew its holdings in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc grew its holdings in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler reduced their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Oppenheimer boosted their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods restated 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. Finally, Raymond James Financial boosted their price objective on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, SEI Investments has an average rating of "Hold" and a consensus price target of $105.00.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company's stock, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,000 shares of company stock valued at $5,254,950. Company insiders own 14.60% of the company's stock.

SEI Investments Trading Down 0.9%

NASDAQ SEIC opened at $84.07 on Thursday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The company has a 50 day moving average of $87.69 and a 200-day moving average of $83.94. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.29 and a beta of 0.97.

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, beating analysts' consensus estimates of $1.18 by $0.60. The company had revenue of $559.60 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. On average, equities research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

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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