Strs Ohio Takes $2.32 Million Position in SEI Investments Company $SEIC

Key Points

• Strs Ohio acquired 29,834 shares of SEI Investments Company, representing a total investment of approximately $2.316 million.
• Insider transactions reveal CEO Ryan Hicke sold 35,000 shares of SEI stock, reducing his ownership by 16.97%.
• SEI Investments reported a 7.8% increase in revenue year-over-year, with earnings per share of $1.78 exceeding analyst expectations.

Strs Ohio acquired a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,834 shares of the asset manager's stock, valued at approximately $2,316,000.

Other hedge funds have also modified their holdings of the company. Lord Abbett & CO. LLC purchased a new position in SEI Investments in the first quarter valued at $51,773,000. Millennium Management LLC increased its holdings in SEI Investments by 339.3% in the first quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock valued at $60,832,000 after buying an additional 605,252 shares during the last quarter. Amundi grew its holdings in shares of 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 purchasing an additional 543,753 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after purchasing an additional 465,646 shares during the last quarter. Finally, Azora Capital LP purchased a new position in shares of SEI Investments during the first quarter worth about $28,852,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research reports. Piper Sandler dropped their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Keefe, Bruyette & Woods reissued 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. Morgan Stanley raised their price target on SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday. Oppenheimer raised their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, SEI Investments has an average rating of "Hold" and a consensus target price of $105.00.

SEI Investments Stock Up 0.5%

Shares of SEIC traded up $0.47 during mid-day trading on Friday, reaching $86.72. 2,395,446 shares of the company's stock were exchanged, compared to its average volume of 601,901. The company has a 50-day simple moving average of $88.68 and a two-hundred day simple moving average of $83.34. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.31 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping 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 business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same period last year, the company posted $1.05 EPS. The company's revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 $115,375. This trade represents a 79.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.60% of the company's stock.

SEI Investments Company 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.