Meiji Yasuda Asset Management Co Ltd. Buys 8,243 Shares of SEI Investments (NASDAQ:SEIC)

Meiji Yasuda Asset Management Co Ltd. grew its stake in SEI Investments (NASDAQ:SEIC) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,133 shares of the asset manager’s stock after acquiring an additional 8,243 shares during the period. Meiji Yasuda Asset Management Co Ltd. owned 0.06% of SEI Investments worth $4,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments in the 2nd quarter valued at about $30,000. TFO Wealth Partners LLC grew its holdings in SEI Investments by 6,277.8% during the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after acquiring an additional 565 shares during the period. EverSource Wealth Advisors LLC grew its holdings in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares during the period. Bessemer Group Inc. lifted its stake in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. boosted its position in shares of SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEIC stock opened at $68.02 on Thursday. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The company’s 50 day moving average price is $66.63 and its two-hundred day moving average price is $67.25. The company has a market capitalization of $8.94 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.32 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SEIC shares. Piper Sandler dropped their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Hold” and an average target price of $71.25.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,582 shares of company stock worth $9,277,605. Corporate insiders own 14.30% of the company’s stock.

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.