Redwood Investment Management LLC Purchases Shares of 17,192 SEI Investments (NASDAQ:SEIC)

Redwood Investment Management LLC purchased a new position in SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,192 shares of the asset manager's stock, valued at approximately $1,418,000.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after purchasing an additional 60,307 shares during the period. Boston Trust Walden Corp raised its holdings in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after acquiring an additional 20,020 shares during the last quarter. FMR LLC raised its holdings in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after acquiring an additional 348,112 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after acquiring an additional 184,339 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SEIC shares. Keefe, Bruyette & Woods increased their target price on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Piper Sandler increased their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a report on Thursday, January 30th. Finally, Morgan Stanley reissued an "overweight" rating and set a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Moderate Buy" and an average price target of $87.60.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of SEI Investments stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer now owns 171,260 shares of the company's stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,214 shares of company stock worth $13,925,963. Company insiders own 14.60% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $0.04 during midday trading on Tuesday, hitting $85.59. The company had a trading volume of 819,523 shares, compared to its average volume of 669,382. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business's 50-day simple moving average is $76.28 and its 200-day simple moving average is $79.93.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management 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.