United Services Automobile Association Takes Position 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 position in SEI Investments Company (NASDAQ:SEIC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,770 shares of the asset manager's stock, valued at approximately $445,000.

A number of other hedge funds have also recently made changes to their positions in SEIC. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock valued at $974,000 after purchasing an additional 4,701 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of SEI Investments by 6.0% in the 1st quarter. LPL Financial LLC now owns 93,455 shares of the asset manager's stock valued at $7,255,000 after buying an additional 5,291 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of SEI Investments in the 1st quarter worth approximately $206,000. FORA Capital LLC bought a new position in shares of SEI Investments during the 1st quarter worth approximately $990,000. Finally, Deutsche Bank AG lifted its position in SEI Investments by 41.9% during the first quarter. Deutsche Bank AG now owns 216,212 shares of the asset manager's stock valued at $16,785,000 after acquiring an additional 63,810 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Trading Down 1.4%

SEIC traded down $1.27 on Friday, reaching $86.50. The stock had a trading volume of 399,426 shares, compared to its average volume of 592,214. The business's 50-day moving average price is $89.28 and its two-hundred day moving average price is $83.09. The company has a market cap of $10.69 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96.

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

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction 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 directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction on 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 transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on SEIC shares. Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Piper Sandler decreased their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, SEI Investments currently has an average rating of "Hold" and a consensus price target of $102.00.

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.