AQR Capital Management LLC Acquires 41,108 Shares of SEI Investments (NASDAQ:SEIC)

AQR Capital Management LLC lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 12.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 367,089 shares of the asset manager’s stock after acquiring an additional 41,108 shares during the quarter. AQR Capital Management LLC owned 0.28% of SEI Investments worth $23,655,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SEIC. Fairfield Financial Advisors LTD bought a new stake in shares of SEI Investments during the 2nd quarter worth $30,000. TFO Wealth Partners LLC raised its position in SEI Investments by 6,277.8% in the fourth 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 raised its position in SEI Investments by 78.3% in the first 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. boosted its stake in SEI Investments by 184.7% in the first 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 last quarter. Finally, Mather Group LLC. grew its position in shares of SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SEIC. Piper Sandler dropped their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SEI Investments currently has an average rating of “Hold” and a consensus target price of $71.25.

Insiders Place Their Bets

In other news, 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 owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock worth $8,942,405 in the last ninety days. 14.30% of the stock is currently owned by insiders.

SEI Investments Price Performance

SEI Investments stock opened at $69.19 on Tuesday. The business has a fifty day moving average price of $66.90 and a 200-day moving average price of $67.24. The firm has a market capitalization of $9.09 billion, a P/E ratio of 18.90, a PEG ratio of 1.37 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

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

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.