Daiwa Securities Group Inc. Acquires 400 Shares of SEI Investments (NASDAQ:SEIC)

Daiwa Securities Group Inc. grew its holdings in shares of SEI Investments (NASDAQ:SEIC) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,800 shares of the asset manager’s stock after buying an additional 400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SEI Investments were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TFO Wealth Partners LLC increased its stake in shares of SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after purchasing an additional 565 shares during the period. EverSource Wealth Advisors LLC grew its position in SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares in the last quarter. Bessemer Group Inc. grew its position in SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares in the last quarter. Mather Group LLC. grew 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 buying an additional 500 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in SEI Investments during the fourth quarter worth approximately $61,000. 70.59% of the stock is owned by institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, Director William Doran sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Doran sold 5,000 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, 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. Insiders have sold 137,582 shares of company stock worth $9,277,605 in the last 90 days. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler cut their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a 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. According to MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average target price of $71.25.

SEI Investments Stock Up 1.0 %

Shares of NASDAQ:SEIC opened at $67.48 on Tuesday. The business has a fifty day simple moving average of $66.56 and a 200 day simple moving average of $67.25. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The firm has a market cap of $8.87 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.32 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, equities research analysts expect that SEI Investments will post 4.2 EPS for the current year.

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.