SEI Investments Company $SEIC Position Boosted by Amundi

Key Points

• Amundi increased its SEI Investments holdings by 1,025.9% in the first quarter, bringing its position to 188,563 shares valued at approximately $14.8 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments reported quarterly EPS of $1.66, surpassing estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $122.60, above its reported trading price of $104.72.

Amundi lifted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1,025.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,563 shares of the asset manager's stock after purchasing an additional 171,815 shares during the period. Amundi owned about 0.16% of SEI Investments worth $14,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SEIC. Bison Wealth LLC bought a new position in shares of SEI Investments in the fourth quarter valued at $207,000. Baird Financial Group Inc. acquired a new stake in shares of SEI Investments during the first quarter worth $201,000. Geneos Wealth Management Inc. lifted its holdings 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 valued at $41,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp lifted 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 valued at $289,000 after purchasing an additional 341 shares during the last quarter. Finally, CW Advisors LLC acquired a new position in shares of SEI Investments in the 2nd quarter valued at $280,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Trading Up 0.5%

SEI Investments stock opened at $104.72 on Wednesday. The company's fifty day simple moving average is $93.46 and its 200-day simple moving average is $86.95. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $105.53. The stock has a market cap of $12.57 billion, a P/E ratio of 18.47 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. The firm had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, sell-side analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a $0.52 dividend. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments's payout ratio is 18.34%.

Analyst Upgrades and Downgrades

SEIC has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Raymond James Financial upped their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, UBS Group reissued a "buy" rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $122.60.

Insider Transactions at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,956,214.57. This trade represents a 33.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the sale, the director directly owned 18,308 shares of the company's stock, valued at approximately $1,889,202.52. The trade was a 35.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 112,332 shares of company stock valued at $10,592,293. Insiders own 4.80% of the company's stock.

About SEI Investments

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.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source