Russell Investments Group Ltd. Boosts Stock Position in SEI Investments (NASDAQ:SEIC)

Russell Investments Group Ltd. increased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,892 shares of the asset manager’s stock after buying an additional 31,977 shares during the period. Russell Investments Group Ltd. owned about 0.08% of SEI Investments worth $8,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC increased its stake in SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC raised its holdings in shares of SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 145 shares during the last quarter. Principal Securities Inc. lifted its position in shares of 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 acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday, January 30th. Piper Sandler cut their price objective on SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and an average price target of $86.80.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s 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 sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % 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. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 over the last ninety days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $72.38 on Friday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The stock has a market cap of $9.19 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.41 and a beta of 0.90. The firm has a fifty day moving average price of $77.31 and a 200 day moving average price of $78.72.

SEI Investments (NASDAQ:SEIC) last announced its 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 return on equity of 25.51% and a net margin of 27.35%. Sell-side analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Company 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.