Dai ichi Life Insurance Company Ltd Lowers Stake in Sea Limited (NYSE:SE)

Dai ichi Life Insurance Company Ltd cut its holdings in Sea Limited (NYSE:SE) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,361 shares of the Internet company based in Singapore’s stock after selling 3,100 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in SEA were worth $217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SE. Sunbelt Securities Inc. boosted its holdings in shares of SEA by 91.4% in the third quarter. Sunbelt Securities Inc. now owns 670 shares of the Internet company based in Singapore’s stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. UMB Bank n.a. increased its position in SEA by 70.9% during the 4th quarter. UMB Bank n.a. now owns 788 shares of the Internet company based in Singapore’s stock worth $32,000 after purchasing an additional 327 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of SEA by 4.3% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,662 shares of the Internet company based in Singapore’s stock worth $381,000 after buying an additional 360 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of SEA by 6.0% in the 4th quarter. Cigna Investments Inc. New now owns 7,119 shares of the Internet company based in Singapore’s stock valued at $288,000 after buying an additional 401 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SEA by 90.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,020 shares of the Internet company based in Singapore’s stock valued at $45,000 after buying an additional 485 shares during the period. 59.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Benchmark increased their price objective on SEA from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Bank of America raised their price objective on shares of SEA from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. HSBC boosted their price objective on shares of SEA from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Sanford C. Bernstein increased their target price on shares of SEA from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $70.00 in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, SEA presently has an average rating of “Moderate Buy” and a consensus price target of $72.73.

SEA Price Performance

Shares of SE traded up $0.25 during trading hours on Friday, reaching $71.98. 2,713,780 shares of the company traded hands, compared to its average volume of 6,709,295. The stock has a market capitalization of $41.20 billion, a PE ratio of 1,439.60 and a beta of 1.43. The stock has a fifty day simple moving average of $60.87 and a 200 day simple moving average of $48.53. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $74.33. The company has a quick ratio of 1.44, a current ratio of 1.46 and a debt-to-equity ratio of 0.43.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, May 14th. The Internet company based in Singapore reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.40). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. SEA had a return on equity of 0.80% and a net margin of 0.39%. SEA’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, research analysts predict that Sea Limited will post 0.75 EPS for the current fiscal year.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.