Dimensional Fund Advisors LP Sells 14,345 Shares of SEI Investments (NASDAQ:SEIC)

Dimensional Fund Advisors LP lowered its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,621,446 shares of the asset manager's stock after selling 14,345 shares during the period. Dimensional Fund Advisors LP owned 1.26% of SEI Investments worth $133,740,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Zacks Investment Management bought a new position in SEI Investments during the 4th quarter valued at $7,102,000. Jump Financial LLC purchased a new stake in SEI Investments in the 4th quarter worth about $3,075,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in SEI Investments during the 4th quarter worth about $23,710,000. CreativeOne Wealth LLC acquired a new stake in SEI Investments during the 4th quarter worth about $242,000. Finally, Mariner LLC lifted its position in shares of SEI Investments by 5.2% in the fourth quarter. Mariner LLC now owns 8,404 shares of the asset manager's stock worth $693,000 after purchasing an additional 419 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC traded up $0.21 during trading hours on Thursday, reaching $78.50. The stock had a trading volume of 80,802 shares, compared to its average volume of 651,721. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The business's fifty day moving average is $75.01 and its two-hundred day moving average is $79.08.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period last year, the firm earned $0.99 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SEIC. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Finally, Morgan Stanley restated an "overweight" rating and set a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

Insider Transactions at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% of the company's stock.

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.