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% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position 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 worth $41,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc raised its holdings in SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after buying an additional 331 shares during the period. First Horizon Advisors Inc. lifted 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 buying an additional 225 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James Financial upped their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Oppenheimer lifted their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $102.00.

Insider Activity

In other news, CEO Ryan Hicke sold 35,000 shares of the 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 transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.61 during trading hours on Tuesday, hitting $87.21. The stock had a trading volume of 766,393 shares, compared to its average volume of 573,499. The firm's 50-day moving average price is $89.06 and its two-hundred 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 $10.78 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.31 and a beta of 0.98.

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