Tidal Investments LLC Boosts Stock Holdings in SEI Investments Company $SEIC

Key Points

• Tidal Investments increased its SEI Investments stake by 40.4% in the second quarter, purchasing 65,207 additional shares and bringing its holdings to 226,700 shares worth approximately $19.9 million. Institutional investors collectively own 70.59% of SEIC.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $122.60.
• SEI Investments exceeded quarterly expectations, reporting adjusted EPS of $1.66 versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year.

Tidal Investments LLC boosted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 40.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,700 shares of the asset manager's stock after buying an additional 65,207 shares during the period. Tidal Investments LLC owned approximately 0.19% of SEI Investments worth $19,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in SEI Investments by 8,074.1% in the 2nd quarter. California State Teachers Retirement System now owns 10,288,383 shares of the asset manager's stock worth $902,394,000 after purchasing an additional 10,162,517 shares in the last quarter. BlackRock Inc. purchased a new position in shares of SEI Investments during the 2nd quarter valued at $870,745,000. Bank of America Corp DE increased its holdings in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock worth $284,015,000 after purchasing an additional 133,057 shares during the period. Geode Capital Management LLC increased its holdings in shares of SEI Investments by 3.9% in the fourth 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. Finally, Lord Abbett & CO. LLC raised its position in shares of SEI Investments by 19.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock worth $157,263,000 after buying an additional 308,988 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

SEIC has been the subject of a number of research reports. UBS Group reissued a "buy" rating and issued a $125.00 price target on shares of SEI Investments in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Piper Sandler lifted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Finally, Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of "Moderate Buy" and an average target price of $122.60.

Insiders Place Their Bets

In related news, insider Philip McCabe sold 5,043 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total value of $532,036.50. Following the transaction, the insider owned 54,884 shares in the company, valued at $5,790,262. The trade was a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathryn McCarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the transaction, the director owned 77,883 shares in the company, valued at approximately $8,063,226.99. This represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 179,832 shares of company stock valued at $17,897,438. Company insiders own 4.80% of the company's stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $106.77 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15. The firm has a market cap of $12.81 billion, a P/E ratio of 18.83 and a beta of 0.97. The business's 50 day moving average price is $103.77 and its 200-day moving average price is $91.56.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. During the same period in the prior year, the firm earned $1.78 earnings per share. SEI Investments's revenue was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.

Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.

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