OMERS ADMINISTRATION Corp Trims Stock Position in SEI Investments Company $SEIC

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in SEI Investments Company by 18.2%, selling 5,976 shares and bringing its holdings to 26,890 shares valued at approximately $2.09 million.
• Insider transactions revealed significant sales, including CEO Ryan Hicke selling 35,000 shares for a total of about $3.09 million, representing a 16.97% decrease in his ownership.
• SEI Investments recently reported earnings of $1.78 per share, exceeding estimates and showing a 7.8% year-over-year revenue increase to $559.6 million for the quarter.

OMERS ADMINISTRATION Corp cut its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 18.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,890 shares of the asset manager's stock after selling 5,976 shares during the period. OMERS ADMINISTRATION Corp's holdings in SEI Investments were worth $2,087,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SEIC. Versant Capital Management Inc boosted 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 buying an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted 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 valued at $62,000 after purchasing an additional 225 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after purchasing an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in SEI Investments during the first quarter valued at $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEIC. Raymond James Financial increased their price objective on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer raised their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 price target (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $102.00.

SEI Investments Stock Down 0.4%

Shares of SEIC traded down $0.38 during trading on Wednesday, reaching $87.72. 547,561 shares of the company traded hands, compared to its average volume of 834,904. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a market cap of $10.84 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98. The stock has a 50-day simple moving average of $89.80 and a 200-day simple moving average of $82.74.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $550.72 million. During the same period last year, the business earned $1.05 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm'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 value of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction 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 firm'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 completion of the transaction, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.30% of the company's stock.

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.