Raymond James Financial Inc. Makes New $42.55 Million Investment in SEI Investments (NASDAQ:SEIC)

Raymond James Financial Inc. acquired a new stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 515,858 shares of the asset manager's stock, valued at approximately $42,548,000. Raymond James Financial Inc. owned about 0.40% of SEI Investments at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SEI Investments in the third quarter valued at $45,000. Principal Securities Inc. boosted its holdings in SEI Investments by 13.3% in the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock valued at $109,000 after purchasing an additional 155 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in SEI Investments by 13.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager's stock valued at $120,000 after purchasing an additional 169 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction on 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 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. Insiders have sold a total of 131,256 shares of company stock worth $10,729,443 in the last ninety days. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Up 2.6 %

Shares of SEI Investments stock traded up $1.90 during mid-day trading on Friday, hitting $73.98. The stock had a trading volume of 556,525 shares, compared to its average volume of 597,838. The firm has a 50-day moving average of $81.25 and a two-hundred day moving average of $77.75. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm has a market cap of $9.39 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

SEIC has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, January 3rd. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Oppenheimer upped their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.00.

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.