Daiwa Securities Group Inc. Raises Stake in SEI Investments (NASDAQ:SEIC)

Daiwa Securities Group Inc. raised its stake in SEI Investments (NASDAQ:SEIC) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,300 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 $464,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SEIC. Gould Capital LLC grew its holdings in shares of SEI Investments by 1.3% during the 3rd quarter. Gould Capital LLC now owns 14,744 shares of the asset manager’s stock worth $872,000 after purchasing an additional 195 shares during the period. VisionPoint Advisory Group LLC grew its holdings in shares of SEI Investments by 67.1% during the 3rd 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 period. Fiera Capital Corp grew its holdings in shares of SEI Investments by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 8,215 shares of the asset manager’s stock worth $495,000 after purchasing an additional 215 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of SEI Investments by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 46,128 shares of the asset manager’s stock worth $2,778,000 after purchasing an additional 235 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in SEI Investments by 2.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,866 shares of the asset manager’s stock valued at $715,000 after acquiring an additional 275 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $74.00 target price (up from $72.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer lifted their target price on 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 dropped their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the sale, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the sale, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the sale, the chairman now owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Insiders sold a total of 206,333 shares of company stock worth $14,481,612 over the last 90 days. 15.50% of the stock is owned by insiders.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $66.57 on Friday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The company has a market cap of $8.76 billion, a PE ratio of 18.19, a P/E/G ratio of 1.36 and a beta of 1.02. The business has a 50-day simple moving average of $68.58 and a 200-day simple moving average of $63.41.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a return on equity of 23.40% and a net margin of 24.80%. The business had revenue of $511.58 million during the quarter, compared to the consensus estimate of $510.41 million. During the same period in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that SEI Investments will post 4.08 earnings per share for the current fiscal 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.