SEI Investments Company $SEIC Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing LLC reduced its stake in SEI Investments Company by 11.3%, now holding 28,100 shares valued at $2,181,000.
• Several hedge funds increased their positions in SEI Investments, with Dimensional Fund Advisors LP lifting its stake by 6.8% and Millennium Management increasing by 339.3%.
• SEI Investments reported a strong EPS of $1.78, significantly surpassing expectations, with revenue growing by 7.8% year-over-year to $559.60 million.

Inspire Investing LLC trimmed its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,100 shares of the asset manager's stock after selling 3,568 shares during the period. Inspire Investing LLC's holdings in SEI Investments were worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock worth $134,487,000 after purchasing an additional 111,065 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after acquiring an additional 19,150 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in SEI Investments by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager's stock worth $62,186,000 after buying an additional 45,019 shares in the last quarter. Millennium Management LLC lifted its position in SEI Investments by 339.3% during the first quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock worth $60,832,000 after buying an additional 605,252 shares in the last quarter. Finally, Amundi lifted its position in SEI Investments by 228.2% during the first quarter. Amundi now owns 782,035 shares of the asset manager's stock worth $57,472,000 after buying an additional 543,753 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James Financial lifted their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer lifted their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, SEI Investments has an average rating of "Hold" and a consensus target price of $102.00.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares of the company's stock, valued at approximately $115,375. This represents a 79.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares of the company's stock, 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 14.60% of the company's stock.

SEI Investments Price Performance

SEIC opened at $87.77 on Friday. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.32 and a beta of 0.98. The business has a fifty day moving average price of $89.42 and a 200 day moving average price of $83.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its 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. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same period in the previous year, the firm posted $1.05 EPS. SEI Investments's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

About SEI Investments

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.

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