SEI Investments Company $SEIC Holdings Trimmed by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd reduced its stake in SEI Investments Company by 37.9% during the second quarter, leaving it with 6,227 shares valued at approximately $560,000.
• Several equity analysts have recently revised their price targets for SEI Investments, with Morgan Stanley increasing their target from $105 to $115, while Zacks lowered their rating from "strong-buy" to "hold."
• SEI Investments reported a quarterly earnings per share (EPS) of $1.78, significantly beating the consensus estimate of $1.18, and showed a 7.8% revenue increase compared to the same quarter last year.

Bayforest Capital Ltd trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 37.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,227 shares of the asset manager's stock after selling 3,794 shares during the period. Bayforest Capital Ltd's holdings in SEI Investments were worth $560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of SEI Investments during the 2nd quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of SEI Investments by 252.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock valued at $46,000 after acquiring an additional 363 shares in the last quarter. First Horizon Advisors Inc. grew its holdings 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 valued at $62,000 after acquiring an additional 225 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings 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 valued at $103,000 after acquiring an additional 681 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods lowered their price target on shares of SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a report on Monday. Morgan Stanley boosted their price target on shares of SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a report on Wednesday, October 8th. Zacks Research cut shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Finally, Raymond James Financial boosted their price target on shares of SEI Investments from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

SEI Investments Trading Up 1.1%

SEIC stock opened at $83.42 on Wednesday. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a fifty day simple moving average of $86.89 and a 200 day simple moving average of $84.45. The firm has a market cap of $10.31 billion, a PE ratio of 15.65, a PEG ratio of 1.25 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $550.72 million. During the same quarter in the previous year, the business earned $1.05 EPS. SEI Investments's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the transaction, the director directly owned 75,641 shares of the company's stock, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $5,254,950 in the last 90 days. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.