Dimensional Fund Advisors LP Has $89.29 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Dimensional Fund Advisors LP grew its position in SEI Investments (NASDAQ:SEIC) by 19.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,380,311 shares of the asset manager’s stock after acquiring an additional 222,631 shares during the quarter. Dimensional Fund Advisors LP’s holdings in SEI Investments were worth $89,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in SEI Investments in the 2nd quarter valued at $1,434,000. Mediolanum International Funds Ltd bought a new stake in SEI Investments during the first quarter valued at about $1,443,000. Norges Bank acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $32,161,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of SEI Investments by 20.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after purchasing an additional 10,670 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of SEI Investments by 21.7% during the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after purchasing an additional 20,533 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 0.3 %

Shares of SEIC opened at $68.55 on Thursday. The company has a 50-day moving average price of $66.73 and a two-hundred day moving average price of $67.26. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.37 and a beta of 0.99. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping 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 business had revenue of $518.99 million during the quarter, compared to the consensus estimate of $523.80 million. During the same quarter last year, the company earned $0.89 EPS. SEI Investments’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that SEI Investments will post 4.2 EPS for the current fiscal year.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction on 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 owns 7,605,414 shares in the company, valued at $513,745,715.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The disclosure for this sale can be found here. Insiders sold 132,582 shares of company stock valued at $8,942,405 in the last three months. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler cut their price target 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 reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.25.

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.