First Trust Direct Indexing L.P. Grows Stock Holdings in SEI Investments (NASDAQ:SEIC)

First Trust Direct Indexing L.P. boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,639 shares of the asset manager’s stock after purchasing an additional 1,165 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in SEI Investments were worth $459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SEIC. Mirae Asset Global Investments Co. Ltd. grew its holdings in SEI Investments by 1.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock worth $6,185,000 after acquiring an additional 1,391 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in SEI Investments during the 1st quarter worth approximately $717,000. BI Asset Management Fondsmaeglerselskab A S raised its position in SEI Investments by 64.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock worth $446,000 after buying an additional 2,418 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after buying an additional 244 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in SEI Investments during the 1st quarter worth approximately $1,443,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SEIC shares. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

Insider Transactions at SEI Investments

In other news, EVP Philip Mccabe sold 10,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now owns 43,544 shares of the company’s stock, valued at approximately $3,305,425.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Philip Mccabe sold 10,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now owns 43,544 shares of the company’s stock, valued at approximately $3,305,425.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,646 shares of company stock valued at $12,926,334 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $75.81 on Monday. The firm has a market cap of $9.77 billion, a PE ratio of 18.31, a PEG ratio of 1.42 and a beta of 0.97. The firm has a fifty day moving average of $69.81 and a 200 day moving average of $67.66. SEI Investments has a one year low of $54.05 and a one year high of $76.95.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the previous year, the firm earned $0.87 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.