Man Group plc Invests $7.67 Million in SEI Investments Company $SEIC

Key Points

• Man Group acquired a new $7.67 million stake in SEI Investments during the second quarter, purchasing 87,503 shares and owning roughly 0.07% of the company. Institutional investors collectively hold 70.59% of SEIC.
• Analysts maintain a favorable outlook, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and an average price target of $122.60.
• SEI Investments beat quarterly earnings expectations, reporting $1.66 in EPS versus the $1.44 consensus and $641.62 million in revenue. Revenue increased 14.7% year over year, while the stock opened at $111.63 near its 12-month high.

Man Group plc acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 87,503 shares of the asset manager's stock, valued at approximately $7,675,000. Man Group plc owned approximately 0.07% of SEI Investments as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Commerce Bank grew its stake in shares of SEI Investments by 1.3% in the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager's stock worth $825,000 after acquiring an additional 133 shares during the last quarter. Root Financial Partners LLC grew its position in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in SEI Investments by 1.2% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager's stock valued at $981,000 after purchasing an additional 141 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in SEI Investments by 1.2% in the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager's stock worth $965,000 after buying an additional 149 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake 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 worth $27,000 after buying an additional 152 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler lifted their target price on SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Raymond James Financial raised their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Friday, August 21st. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.60.

SEI Investments Trading Up 0.3%

SEIC opened at $111.63 on Friday. The stock has a 50-day moving average of $100.09 and a 200 day moving average of $89.67. 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 Company has a 12 month low of $75.08 and a 12 month high of $112.15. The firm has a market cap of $13.40 billion, a P/E ratio of 19.69 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, research analysts forecast that SEI Investments Company will post 6.2 EPS for the current year.

Insider Activity

In other news, insider Philip Mccabe sold 24,957 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the transaction, the insider owned 54,884 shares of the company's stock, valued at approximately $5,765,015.36. The trade was a 31.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $103.53, for a total value of $1,035,300.00. Following the sale, the director owned 77,883 shares in the company, valued at $8,063,226.99. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 142,332 shares of company stock worth $13,745,813. Company insiders own 4.80% of the company's stock.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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