SEI Investments Company $SEIC Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 19.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,003 shares of the asset manager's stock after selling 34,619 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of SEI Investments worth $13,030,000 at the end of the most recent reporting period.

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A number of other large investors have also recently added to or reduced their stakes in SEIC. LPL Financial LLC boosted its position in shares of SEI Investments by 6.0% in the 1st quarter. LPL Financial LLC now owns 93,455 shares of the asset manager's stock valued at $7,255,000 after purchasing an additional 5,291 shares during the period. FORA Capital LLC acquired a new position in SEI Investments in the 1st quarter worth approximately $990,000. Deutsche Bank AG boosted its stake in SEI Investments by 41.9% in the 1st quarter. Deutsche Bank AG now owns 216,212 shares of the asset manager's stock worth $16,785,000 after purchasing an additional 63,810 shares during the period. Raymond James Financial Inc. grew its position in SEI Investments by 3.2% during the 1st quarter. Raymond James Financial Inc. now owns 532,195 shares of the asset manager's stock worth $41,314,000 after purchasing an additional 16,337 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in SEI Investments during the 1st quarter valued at $287,000. 70.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective on SEI Investments from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Keefe, Bruyette & Woods decreased their price target on shares of SEI Investments from $98.00 to $93.00 and set a "market perform" rating for the company in a report on Monday, October 13th. Raymond James Financial upped their target price on SEI Investments from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, October 14th. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, SEI Investments currently has an average rating of "Moderate Buy" and an average target price of $104.40.

Get Our Latest Analysis on SEI Investments

Insider Activity

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares in the company, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Guarino sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares in the company, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 14.60% of the company's stock.

SEI Investments Stock Down 1.1%

SEIC stock opened at $79.98 on Tuesday. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.22 and a beta of 0.96. The business's fifty day moving average price is $82.28 and its two-hundred day moving average price is $85.85.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period in the prior year, the company posted $1.19 earnings per share. SEI Investments's revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has authorized a stock buyback plan on Friday, October 24th that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership 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.

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