Raymond James & Associates Raises Holdings in SEI Investments (NASDAQ:SEIC)

Raymond James & Associates boosted its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 3.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 544,477 shares of the asset manager's stock after purchasing an additional 19,846 shares during the quarter. Raymond James & Associates owned about 0.42% of SEI Investments worth $37,672,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SEIC. IFG Advisory LLC lifted its holdings in shares of SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager's stock valued at $3,831,000 after purchasing an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock worth $77,000 after acquiring an additional 168 shares during the last quarter. Creative Planning raised its position in SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager's stock valued at $559,000 after purchasing an additional 182 shares during the last quarter. Diversified Trust Co raised its position in SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager's stock valued at $3,507,000 after purchasing an additional 202 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in SEI Investments by 7.8% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager's stock worth $190,000 after purchasing an additional 213 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Oppenheimer increased their price objective on SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lifted their target price on SEI Investments from $71.00 to $74.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $72.25.

SEI Investments Trading Down 1.6 %

NASDAQ SEIC opened at $71.12 on Wednesday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.44 and a beta of 0.99. The business's 50 day moving average is $68.53 and its two-hundred day moving average is $67.30. SEI Investments has a 12-month low of $52.19 and a 12-month high of $73.66.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. SEI Investments's quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that SEI Investments will post 4.25 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock valued at $8,942,405 in the last ninety days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Profile

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.