Vest Financial LLC Buys 21,094 Shares of SEI Investments Company $SEIC

Key Points

• Vest Financial LLC increased its stake in SEI Investments by 63.5%, acquiring an additional 21,094 shares, bringing its total holdings to 54,326 shares valued at approximately $4.88 million.
• SEI Investments reported impressive earnings with $1.78 EPS for the last quarter, significantly exceeding analyst expectations of $1.18, alongside a revenue increase of 7.8% year-over-year.
• Analysts have raised their price targets for SEI Investments, with Morgan Stanley and Raymond James lifting their targets to $115.00 and $118.00 respectively, amid a generally positive outlook for the stock.

Vest Financial LLC grew its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 63.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,326 shares of the asset manager's stock after purchasing an additional 21,094 shares during the quarter. Vest Financial LLC's holdings in SEI Investments were worth $4,882,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SEIC. Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of SEI Investments in the second quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of SEI Investments by 252.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock valued at $46,000 after purchasing an additional 363 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares during the period. Institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

NASDAQ:SEIC opened at $82.52 on Tuesday. The business has a fifty day simple moving average of $86.98 and a two-hundred day simple moving average of $84.45. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a market capitalization of $10.20 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.23 and a beta of 0.96.

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 analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The business had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period last year, the business posted $1.05 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the sale, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $5,254,950. Corporate insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SEIC shares. Morgan Stanley lifted their price target on SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Raymond James Financial lifted their price target on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Oppenheimer lifted 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. Keefe, Bruyette & Woods dropped their price target on SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a report on Monday. Finally, Piper Sandler dropped their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Four 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, SEI Investments has an average rating of "Moderate Buy" and an average target price of $104.00.

About SEI Investments

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.

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