SEI Investments Company $SEIC Stock Holdings Cut by Hahn Capital Management LLC

Key Points

• Hahn Capital Management cut its SEI Investments stake by 17.2% in the first quarter, selling 17,503 shares and leaving it with 84,374 shares worth about $6.62 million. SEIC remains a meaningful holding, making up about 4.2% of the fund’s portfolio.
• SEI Investments reported better-than-expected quarterly earnings of $1.44 per share, beating estimates by $0.15, while revenue rose 12.9% year over year to $622.18 million. Analysts still expect full-year EPS of 5.98.
• Wall Street remains constructive on the stock: several firms raised price targets, and the consensus rating is “Moderate Buy” with an average target of $116.20. Meanwhile, company insiders have also been selling shares, including Chairman Alfred P. West Jr.’s 50,000-share sale in June.

Hahn Capital Management LLC lowered its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 17.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,374 shares of the asset manager's stock after selling 17,503 shares during the quarter. SEI Investments comprises about 4.2% of Hahn Capital Management LLC's portfolio, making the stock its 9th biggest holding. Hahn Capital Management LLC owned about 0.07% of SEI Investments worth $6,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of SEI Investments by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock valued at $284,015,000 after acquiring an additional 133,057 shares during the period. Geode Capital Management LLC boosted its position in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock worth $237,421,000 after purchasing an additional 109,974 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock worth $157,263,000 after purchasing an additional 308,988 shares during the period. First Trust Advisors LP increased its holdings in SEI Investments by 4.4% in the 4th quarter. First Trust Advisors LP now owns 1,800,938 shares of the asset manager's stock valued at $147,713,000 after purchasing an additional 75,919 shares during the last quarter. Finally, Invesco Ltd. raised its position in SEI Investments by 4.1% in the third quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager's stock valued at $146,920,000 after purchasing an additional 68,873 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $99.25 on Monday. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $100.79. The company has a fifty day simple moving average of $91.04 and a two-hundred day simple moving average of $85.61. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 16.94 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. During the same period last year, the business posted $1.17 earnings per share. SEI Investments's revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that SEI Investments Company will post 5.98 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments's dividend payout ratio (DPR) is presently 17.75%.

Analysts Set New Price Targets

A number of research firms have commented on SEIC. Piper Sandler upped their price target on SEI Investments from $105.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Morgan Stanley boosted their price objective on SEI Investments from $113.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on SEI Investments from $107.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, July 10th. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.20.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 4,000 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the transaction, the insider directly owned 921 shares of the company's stock, valued at approximately $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is currently owned by company insiders.

SEI Investments Profile

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.