Corebridge Financial Inc. Has $8.27 Million Holdings in SEI Investments Company $SEIC

Key Points

• Corebridge Financial Inc. has reduced its stake in SEI Investments Company by 3.9%, now owning about 0.09% of the company valued at $8.27 million.
• Research analysts have mixed views on SEI Investments, with price targets ranging from $93.00 to $118.00 and an overall average rating of "Moderate Buy."
• Insider trading activity includes Mark Andrew Warner selling 5,000 shares and CEO Ryan Hicke selling 35,000 shares, representing notable decreases in their ownership stakes.

Corebridge Financial Inc. trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,499 shares of the asset manager's stock after selling 4,372 shares during the quarter. Corebridge Financial Inc. owned 0.09% of SEI Investments worth $8,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in 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 valued at $42,000 after buying an additional 331 shares during the period. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after acquiring an additional 225 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of SEI Investments by 104.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of SEI Investments by 1,563.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of SEI Investments during the 1st quarter worth about $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analyst Weigh In

SEIC has been the topic of several research analyst reports. Piper Sandler cut their price target 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. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Raymond James Financial lifted their price target on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, SEI Investments presently has an average rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Stock Performance

SEI Investments stock traded down $0.57 during trading on Friday, hitting $88.28. The company's stock had a trading volume of 703,792 shares, compared to its average volume of 575,000. The stock's fifty day moving average is $89.69 and its 200 day moving average is $82.66. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.37 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping the consensus estimate of $1.18 by $0.60. The company had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $3,090,500.00. Following the completion of the sale, the chief executive officer 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. Corporate insiders own 14.30% of the company's stock.

SEI Investments Company 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.