Public Employees Retirement System of Ohio Acquires Shares of 47,868 SEI Investments Company $SEIC

Key Points

• Public Employees Retirement System of Ohio acquired 47,868 shares of SEI Investments during the second quarter, valued at approximately $4.2 million. Institutional investors and hedge funds collectively own 70.59% of the company.
• SEI Investments exceeded quarterly expectations, reporting $1.66 in EPS versus the $1.44 consensus estimate and $641.62 million in revenue, up 14.7% year over year.
• Analysts maintain a favorable outlook, with six Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $122.60. However, insiders have sold 142,332 shares worth about $13.7 million over the past 90 days.

Public Employees Retirement System of Ohio purchased a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 47,868 shares of the asset manager's stock, valued at approximately $4,199,000.

Other large investors have also bought and sold shares of the company. Bison Wealth LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $207,000. Baird Financial Group Inc. acquired a new stake in SEI Investments in the first quarter valued at approximately $201,000. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 200 shares during the last quarter. M&T Bank Corp increased its holdings in shares of SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after buying an additional 341 shares in the last quarter. Finally, CW Advisors LLC bought a new position in shares of SEI Investments in the 2nd quarter valued at $280,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In related news, insider Mark Warner sold 15,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the sale, the insider directly owned 921 shares of the company's stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip McCabe sold 24,957 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 142,332 shares of company stock valued at $13,745,813 over the last 90 days. Corporate insiders own 4.80% of the company's stock.

SEI Investments Stock Performance

SEIC stock opened at $111.46 on Friday. The firm has a market cap of $13.38 billion, a PE ratio of 19.66 and a beta of 0.97. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $101.76 and a 200-day moving average price of $90.56. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $112.15.

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

Analyst Ratings Changes

SEIC has been the topic of a number of research reports. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Piper Sandler boosted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley raised their target price on SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.60.

SEI Investments Company 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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