SEI Investments (NASDAQ:SEIC) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP raised its position in SEI Investments (NASDAQ:SEIC) by 80.1% during the third quarter, HoldingsChannel.com reports. The firm owned 53,086 shares of the asset manager’s stock after buying an additional 23,604 shares during the quarter. Bridgewater Associates LP’s holdings in SEI Investments were worth $3,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of SEI Investments by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after acquiring an additional 36,810 shares in the last quarter. FMR LLC raised its stake in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after acquiring an additional 632,024 shares during the period. Raymond James & Associates raised its stake in shares of SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after acquiring an additional 19,846 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of SEI Investments by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research reports. Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler upped their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.50.

Insiders Place Their Bets

In other news, Director Carl Guarino sold 7,564 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.77, for a total transaction of $573,124.28. Following the completion of the transaction, the director now directly owns 13,867 shares in the company, valued at $1,050,702.59. The trade was a 35.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,064 shares of company stock worth $5,173,529. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Up 0.2 %

Shares of NASDAQ SEIC opened at $82.63 on Friday. SEI Investments has a fifty-two week low of $57.86 and a fifty-two week high of $83.11. The stock has a market cap of $10.65 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97. The firm’s 50-day simple moving average is $75.14 and its 200 day simple moving average is $69.52.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, sell-side analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.