United Services Automobile Association Makes New Investment in SEI Investments Company $SEIC

Key Points

• United Services Automobile Association acquired 5,770 shares of SEI Investments, valued at approximately $445,000, highlighting its interest in the asset management company.
• SEI Investments received significant investment increases from multiple large investors and now has 70.59% of its stock owned by institutional investors.
• Analysts have mixed opinions on SEI Investments, with a consensus rating of "Hold" and price targets ranging between $93.00 and $102.00 per share.

United Services Automobile Association purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,770 shares of the asset manager's stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kestra Investment Management LLC raised its position in SEI Investments by 11.0% during the 1st quarter. Kestra Investment Management LLC now owns 4,841 shares of the asset manager's stock valued at $376,000 after purchasing an additional 481 shares during the last quarter. Petrus Trust Company LTA raised its position in SEI Investments by 3.0% during the 1st quarter. Petrus Trust Company LTA now owns 9,787 shares of the asset manager's stock valued at $760,000 after purchasing an additional 282 shares during the last quarter. Millennium Management LLC raised its position in shares of SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock worth $60,832,000 after acquiring an additional 605,252 shares in the last quarter. Interval Partners LP raised its position in shares of SEI Investments by 26.4% in the 1st quarter. Interval Partners LP now owns 252,191 shares of the asset manager's stock worth $19,578,000 after acquiring an additional 52,718 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of SEI Investments in the 1st quarter worth approximately $16,174,000. Institutional investors own 70.59% of the company's stock.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at $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 14.30% of the company's stock.

SEI Investments Stock Performance

Shares of SEI Investments stock traded up $0.16 during trading hours on Tuesday, hitting $86.76. The company's stock had a trading volume of 138,728 shares, compared to its average volume of 822,432. The business has a 50 day moving average price of $89.16 and a two-hundred day moving average price of $83.16. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The company has a market cap of $10.73 billion, a PE ratio of 16.29, a PEG ratio of 1.31 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same quarter last year, the business posted $1.05 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SEIC. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Piper Sandler decreased their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three equities 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.com, SEI Investments presently has a consensus rating of "Hold" and a consensus price target of $102.00.

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.