Pensionfund Sabic Sells 3,400 Shares of SEI Investments Company $SEIC

Key Points

• Pensionfund Sabic reduced its stake in SEI Investments Company by 17.9% during the first quarter, selling 3,400 shares and bringing its total ownership to 15,600 shares valued at approximately $1.21 million.
• SEI Investments reported earnings of $1.78 per share for the recent quarter, exceeding analyst expectations of $1.18, with revenue increasing 7.8% year-over-year.
• Analysts have mixed views on SEI Investments, with ratings ranging from "strong buy" to "hold," and an average target price of $102.00 for the stock.

Pensionfund Sabic lowered its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 17.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,600 shares of the asset manager's stock after selling 3,400 shares during the period. Pensionfund Sabic's holdings in SEI Investments were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc increased its stake in 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 last quarter. First Horizon Advisors Inc. increased its stake in SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after buying an additional 225 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after buying an additional 681 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after buying an additional 1,282 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEI Investments stock traded up $0.20 during midday trading on Friday, hitting $86.45. 270,513 shares of the company traded hands, compared to its average volume of 821,958. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.31 and a beta of 0.98. The firm's fifty day moving average price is $88.79 and its 200-day moving average price is $83.26. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the previous year, the firm posted $1.05 EPS. The firm's revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 35,000 shares of the business'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 transaction of $3,090,500.00. Following the sale, the chief executive officer directly owned 171,260 shares of the company's stock, valued at $15,122,258. The trade was a 16.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business's 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 $115,375. The trade was a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SEIC shares. Raymond James Financial lifted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley set a $115.00 target price on shares of SEI Investments and gave the stock an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Finally, Piper Sandler reduced their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $105.00.

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.