SEI Investments (NASDAQ:SEIC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in SEI Investments (NASDAQ:SEIC) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the asset manager’s stock after purchasing an additional 400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SEI Investments were worth $505,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SEIC. Andra AP fonden increased its position in shares of SEI Investments by 45.6% during the second quarter. Andra AP fonden now owns 135,800 shares of the asset manager’s stock worth $8,785,000 after acquiring an additional 42,500 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in SEI Investments by 9.6% in the second quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after buying an additional 8,387 shares during the last quarter. Quest Partners LLC boosted its stake in SEI Investments by 4.8% in the second quarter. Quest Partners LLC now owns 27,949 shares of the asset manager’s stock valued at $1,808,000 after acquiring an additional 1,276 shares during the period. Oak Thistle LLC acquired a new position in SEI Investments in the second quarter valued at approximately $675,000. Finally, Caprock Group LLC boosted its stake in SEI Investments by 7.9% in the second quarter. Caprock Group LLC now owns 3,596 shares of the asset manager’s stock valued at $233,000 after acquiring an additional 264 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler dropped their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.25.

SEI Investments Stock Up 1.0 %

Shares of SEI Investments stock opened at $67.48 on Tuesday. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The stock has a market capitalization of $8.87 billion, a P/E ratio of 18.44, a PEG ratio of 1.32 and a beta of 0.99. The stock has a 50 day moving average price of $66.56 and a two-hundred day moving average price of $67.25.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $518.99 million during the quarter, compared to the consensus estimate of $523.80 million. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 4.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William Doran sold 5,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director William Doran sold 5,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,582 shares of company stock worth $9,277,605. 14.30% of the stock is currently owned by company insiders.

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.