SEI Investments (NASDAQ:SEIC) Shares Bought by Royce & Associates LP

Royce & Associates LP increased its stake in SEI Investments (NASDAQ:SEIC) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,465,406 shares of the asset manager’s stock after purchasing an additional 1,828 shares during the period. SEI Investments accounts for about 0.9% of Royce & Associates LP’s portfolio, making the stock its 4th largest position. Royce & Associates LP’s holdings in SEI Investments were worth $101,391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SEIC. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments during the 2nd quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on 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 completion of the sale, 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 0.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Guarino sold 7,564 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total transaction of $573,124.28. Following the completion of the sale, the director now directly owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 200,646 shares of company stock valued at $14,115,934. Insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEIC. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Up 1.1 %

Shares of SEIC stock opened at $81.52 on Friday. SEI Investments has a 52 week low of $57.43 and a 52 week high of $81.97. The stock has a market capitalization of $10.51 billion, a PE ratio of 19.69, a P/E/G ratio of 1.54 and a beta of 0.97. The firm has a 50 day moving average of $72.06 and a two-hundred day moving average of $68.47.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. Analysts expect that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are 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.