Mirae Asset Global Investments Co. Ltd. Sells 711 Shares of SEI Investments (NASDAQ:SEIC)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in SEI Investments (NASDAQ:SEICGet Rating) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,985 shares of the asset manager’s stock after selling 711 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of SEI Investments worth $5,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of SEI Investments by 8.3% in the 1st quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock worth $3,304,000 after purchasing an additional 4,206 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of SEI Investments by 1.5% in the 1st quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager’s stock worth $8,731,000 after purchasing an additional 2,100 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of SEI Investments by 4.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 229,692 shares of the asset manager’s stock worth $13,830,000 after purchasing an additional 9,201 shares in the last quarter. Profund Advisors LLC increased its stake in shares of SEI Investments by 3.8% in the 1st quarter. Profund Advisors LLC now owns 5,637 shares of the asset manager’s stock worth $339,000 after purchasing an additional 207 shares in the last quarter. Finally, WINTON GROUP Ltd increased its stake in shares of SEI Investments by 1.4% in the 1st quarter. WINTON GROUP Ltd now owns 18,778 shares of the asset manager’s stock worth $1,131,000 after purchasing an additional 261 shares in the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Up 2.6 %

SEIC opened at $48.78 on Friday. The firm has a 50-day simple moving average of $53.89 and a two-hundred day simple moving average of $55.20. SEI Investments has a 52 week low of $46.30 and a 52 week high of $65.22. The company has a market capitalization of $6.61 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

SEI Investments (NASDAQ:SEICGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The company had revenue of $481.67 million for the quarter, compared to the consensus estimate of $472.18 million. During the same period last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts expect that SEI Investments will post 3.63 earnings per share for the current year.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of analyst reports. Piper Sandler cut their price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group cut their price target on SEI Investments to $58.00 in a research note on Friday, July 22nd. StockNews.com initiated coverage on SEI Investments in a research note on Wednesday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods cut their price target on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Finally, Morgan Stanley cut their price target on SEI Investments from $52.00 to $51.00 and set an “underweight” rating for the company in a research note on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.17.

Insider Activity at SEI Investments

In related news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 83,386 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the completion of the transaction, the insider now directly owns 9,136,792 shares of the company’s stock, valued at approximately $503,163,135.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,386 shares of company stock valued at $7,359,017. Insiders own 25.40% of the company’s stock.

About SEI Investments

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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