Raymond James & Associates Acquires 19,846 Shares of SEI Investments (NASDAQ:SEIC)

Raymond James & Associates grew its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,477 shares of the asset manager's stock after buying an additional 19,846 shares during the quarter. Raymond James & Associates owned approximately 0.42% of SEI Investments worth $37,672,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DGS Capital Management LLC lifted its holdings in SEI Investments by 108.9% during the first quarter. DGS Capital Management LLC now owns 8,839 shares of the asset manager's stock valued at $636,000 after purchasing an additional 4,607 shares in the last quarter. Janiczek Wealth Management LLC grew its holdings in SEI Investments by 17.1% during the 1st quarter. Janiczek Wealth Management LLC now owns 7,015 shares of the asset manager's stock valued at $504,000 after buying an additional 1,022 shares in the last quarter. Procyon Advisors LLC raised its position in shares of SEI Investments by 8.8% during the first quarter. Procyon Advisors LLC now owns 31,874 shares of the asset manager's stock valued at $2,292,000 after buying an additional 2,584 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of SEI Investments by 1.9% in the first quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager's stock worth $1,914,000 after buying an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in SEI Investments by 2.2% during the first quarter. Principal Financial Group Inc. now owns 384,371 shares of the asset manager's stock valued at $27,636,000 after acquiring an additional 8,222 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the transaction, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, 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. Over the last quarter, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on SEIC. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler increased their price target on SEI Investments from $71.00 to $74.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Oppenheimer lifted their price objective on SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $72.25.

SEI Investments Stock Down 0.6 %

NASDAQ SEIC traded down $0.42 during trading hours on Wednesday, hitting $70.70. 1,237,675 shares of the company were exchanged, compared to its average volume of 574,425. SEI Investments has a 52 week low of $52.19 and a 52 week high of $73.71. The stock has a 50-day moving average price of $68.53 and a 200 day moving average price of $67.30. The stock has a market cap of $9.18 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

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

SEI Investments announced that its board has authorized a stock buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.