Meiji Yasuda Asset Management Co Ltd. Sells 70,150 Shares of SEI Investments Company $SEIC

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly reduced its stake in SEI Investments by selling 70,150 shares, representing a 94.6% decrease in ownership, leaving it with just 3,971 shares valued at $308,000.
• Other institutional investors have made notable changes in their holdings, with Cullen Frost Bankers Inc. increasing its stake by 1,563.4% after acquiring 1,282 additional shares.
• SEI Investments reported a higher-than-expected quarterly earnings per share of $1.78, surpassing analysts' estimates of $1.18, along with a revenue of $559.60 million, exceeding projections by $8.88 million.

Meiji Yasuda Asset Management Co Ltd. reduced its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 94.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,971 shares of the asset manager's stock after selling 70,150 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in SEI Investments were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after buying an additional 331 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after buying an additional 225 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after buying an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of SEI Investments in the 1st quarter worth $132,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the sale, the insider directly owned 1,300 shares of the company's stock, valued at $115,375. This trade represents 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 the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the sale, 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. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Up 1.0%

NASDAQ:SEIC opened at $87.77 on Friday. The business's 50-day simple moving average is $89.42 and its two-hundred day simple moving average is $83.02. The stock has a market cap of $10.85 billion, a PE ratio of 16.47, a P/E/G ratio of 1.32 and a beta of 0.98. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. The business 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% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Sell-side analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial raised their price target on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Piper Sandler lowered 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. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of "Hold" and a consensus target price 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.

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