Inspire Investing LLC Has $2.18 Million Stock Position in SEI Investments Company $SEIC

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 lessened its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,100 shares of the asset manager's stock after selling 3,568 shares during the quarter. Inspire Investing LLC's holdings in SEI Investments were worth $2,181,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc boosted its holdings in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the period. First Horizon Advisors Inc. increased its stake in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after purchasing an additional 681 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after purchasing an additional 1,282 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC traded down $0.35 during midday trading on Wednesday, reaching $86.86. The stock had a trading volume of 198,473 shares, compared to its average volume of 822,471. The firm's 50 day moving average price is $89.06 and its 200-day moving average price is $83.19. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a market capitalization of $10.74 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.31 and a beta of 0.98.

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

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the sale, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were 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 of the company's stock, valued at $115,375. This represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Oppenheimer upped their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial upped their price target on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $102.00.

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.