SEI Investments (NASDAQ:SEIC) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 21.3% during the 3rd quarter, Holdings Channel reports. The firm owned 6,639 shares of the asset manager’s stock after buying an additional 1,165 shares during the period. First Trust Direct Indexing L.P.’s holdings in SEI Investments were worth $459,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $89,291,000 after buying an additional 222,631 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of SEI Investments during the first quarter worth approximately $14,172,000. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments during the second quarter worth approximately $7,787,000. West Coast Financial LLC increased its stake in shares of SEI Investments by 120.8% during the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after buying an additional 63,537 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of SEI Investments by 67.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock worth $10,376,000 after buying an additional 58,808 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Up 1.4 %

Shares of SEI Investments stock opened at $75.81 on Monday. The firm has a market capitalization of $9.77 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.42 and a beta of 0.97. SEI Investments has a 52 week low of $54.05 and a 52 week high of $76.95. The firm’s 50 day moving average is $69.81 and its two-hundred day moving average is $67.66.

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. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. As a group, research analysts expect that SEI Investments will post 4.38 earnings per share for the current fiscal year.

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

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,646 shares of company stock worth $12,926,334. Insiders own 14.30% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of recent research reports. Oppenheimer upped their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler increased their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments 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.