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

Meiji Yasuda Asset Management Co Ltd. lifted its position in SEI Investments (NASDAQ:SEIC) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,133 shares of the asset manager’s stock after buying an additional 8,243 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in SEI Investments were worth $4,925,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments in the second quarter valued at approximately $30,000. TFO Wealth Partners LLC raised its stake in SEI Investments by 6,277.8% in the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 565 shares during the period. Bessemer Group Inc. raised its stake in 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 acquiring an additional 386 shares during the period. EverSource Wealth Advisors LLC lifted 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 valued at $41,000 after purchasing an additional 275 shares during the last quarter. Finally, Mather Group LLC. boosted its position in SEI Investments by 181.2% during the second 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 period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

SEI Investments Price Performance

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

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. SEI Investments’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. Research analysts expect that SEI Investments will post 4.2 EPS for the current year.

Insider Transactions at SEI Investments

In related news, Director William Doran sold 5,000 shares of the business’s 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 sale, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The sale was disclosed in a filing with the SEC, which is available at this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the transaction, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Doran sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,582 shares of company stock valued at $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.