Mirae Asset Global Investments Co. Ltd. Sells 3,627 Shares of SEI Investments (NASDAQ:SEIC)

Mirae Asset Global Investments Co. Ltd. cut its holdings in SEI Investments (NASDAQ:SEIC) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 84,637 shares of the asset manager’s stock after selling 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SEI Investments were worth $5,379,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SEIC. DHJJ Financial Advisors Ltd. bought a new stake in SEI Investments in the third quarter worth $27,000. VisionPoint Advisory Group LLC lifted its stake in SEI Investments by 67.1% in the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of SEI Investments in the third quarter valued at about $37,000. UniSuper Management Pty Ltd purchased a new position in shares of SEI Investments in the second quarter valued at about $48,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of SEI Investments in the second quarter valued at about $71,000. 70.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Oppenheimer boosted their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler boosted their price objective on shares of SEI Investments from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.25.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $66.97 on Tuesday. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The company’s 50-day moving average is $68.52 and its 200 day moving average is $62.97. The stock has a market capitalization of $8.80 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.38 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The company had revenue of $484.86 million for the quarter, compared to analysts’ expectations of $481.39 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. Research analysts anticipate that SEI Investments will post 4.08 earnings per share for the current year.

Insider Activity at SEI Investments

In related news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the transaction, the executive vice president now owns 55,399 shares in the company, valued at $3,665,197.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the transaction, the executive vice president now owns 55,399 shares in the company, valued at $3,665,197.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Insiders have sold 206,333 shares of company stock worth $14,481,612 over the last 90 days. 15.50% of the stock is 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.