Mirae Asset Global Investments Co. Ltd. Has $5.83 Million Position in SEI Investments (NASDAQ:SEIC)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in SEI Investments (NASDAQ:SEIC) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,196 shares of the asset manager’s stock after selling 2,036 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SEI Investments were worth $5,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after purchasing an additional 222,631 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of SEI Investments in the first quarter worth $14,172,000. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments during the second quarter worth $7,787,000. West Coast Financial LLC boosted its position in SEI Investments by 120.8% during the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock valued at $7,512,000 after purchasing an additional 63,537 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in SEI Investments by 67.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after purchasing an additional 58,808 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Up 0.9 %

Shares of NASDAQ:SEIC opened at $75.81 on Tuesday. The business has a 50 day moving average price of $69.12 and a 200 day moving average price of $67.41. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.43 and a beta of 0.99. SEI Investments has a twelve month low of $52.95 and a twelve month high of $76.21.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at SEI Investments

In other SEI Investments 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 completion of the transaction, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the 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 directly owns 7,504,285 shares in the company, valued at $505,488,637.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,582 shares of company stock worth $8,942,405. 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.