SEI Investments Company $SEIC Shares Purchased by Azora Capital LP

Azora Capital LP raised its stake in SEI Investments Company (NASDAQ:SEIC) by 109.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777,952 shares of the asset manager’s stock after acquiring an additional 406,287 shares during the period. SEI Investments accounts for approximately 3.2% of Azora Capital LP’s portfolio, making the stock its 14th largest position. Azora Capital LP owned approximately 0.63% of SEI Investments worth $69,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new stake in shares of SEI Investments in the 1st quarter valued at about $51,773,000. Norges Bank purchased a new stake in SEI Investments in the second quarter valued at approximately $55,685,000. Millennium Management LLC boosted its holdings in shares of 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 acquiring an additional 605,252 shares during the period. Amundi grew its position 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 acquiring an additional 543,753 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of SEI Investments during the second quarter worth approximately $37,490,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In related news, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director owned 16,042 shares in the company, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,770 shares of company stock worth $3,723,850 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Keefe, Bruyette & Woods decreased their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Morgan Stanley boosted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Finally, Raymond James Financial lifted their target price on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

SEI Investments Stock Up 0.8%

SEIC opened at $81.56 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The stock has a market capitalization of $9.99 billion, a P/E ratio of 14.99 and a beta of 0.98. The business has a 50 day simple moving average of $81.73 and a 200-day simple moving average of $85.69.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.SEI Investments’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, equities analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a stock buyback plan on Friday, October 24th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

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.