Russell Investments Group Ltd. Buys 24,055 Shares of SEI Investments (NASDAQ:SEIC)

Russell Investments Group Ltd. boosted its stake in shares of SEI Investments (NASDAQ:SEIC) by 34.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,834 shares of the asset manager’s stock after acquiring an additional 24,055 shares during the period. Russell Investments Group Ltd. owned 0.07% of SEI Investments worth $6,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEIC. abrdn plc raised its stake in SEI Investments by 91.0% in the fourth quarter. abrdn plc now owns 36,923 shares of the asset manager’s stock valued at $2,346,000 after purchasing an additional 17,590 shares in the last quarter. IFG Advisory LLC lifted its holdings in shares of SEI Investments by 109.1% during the 4th quarter. IFG Advisory LLC now owns 58,292 shares of the asset manager’s stock worth $3,704,000 after acquiring an additional 30,408 shares during the period. Diversified Trust Co boosted its position in shares of SEI Investments by 299.3% during the 4th quarter. Diversified Trust Co now owns 55,230 shares of the asset manager’s stock worth $3,510,000 after acquiring an additional 41,397 shares in the last quarter. Nordea Investment Management AB raised its position in SEI Investments by 9.8% during the fourth quarter. Nordea Investment Management AB now owns 9,445 shares of the asset manager’s stock valued at $601,000 after purchasing an additional 841 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in SEI Investments by 507.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 88,571 shares of the asset manager’s stock worth $5,335,000 after purchasing an additional 73,987 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Oppenheimer increased their target price on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price target (up from $72.00) on shares of SEI Investments in a report on Thursday, April 25th. Finally, Piper Sandler dropped their price objective on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.00.

SEI Investments Trading Up 0.4 %

Shares of SEIC stock opened at $68.57 on Thursday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.37 and a beta of 1.03. The business’s 50-day moving average price is $68.64 and its 200-day moving average price is $64.06. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $511.58 million for the quarter, compared to the consensus estimate of $510.41 million. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.79 EPS. On average, sell-side analysts predict that SEI Investments will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sanjay Sharma sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the sale, the insider now owns 16,895 shares of the company’s stock, valued at $1,135,344. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Sanjay Sharma sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the sale, the insider now directly owns 16,895 shares in the company, valued at $1,135,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 3,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $67.31, for a total transaction of $201,930.00. Following the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $87,503. The disclosure for this sale can be found here. Insiders sold a total of 189,363 shares of company stock valued at $13,358,877 in the last three months. Insiders own 14.30% of the company’s stock.

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.