Redwood Investment Management LLC Purchases New Holdings in SEI Investments (NASDAQ:SEIC)

Redwood Investment Management LLC bought a new position in SEI Investments (NASDAQ:SEIC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,192 shares of the asset manager's stock, valued at approximately $1,418,000.

Several other institutional investors have also made changes to their positions in the company. King Luther Capital Management Corp purchased a new stake in SEI Investments in the 4th quarter worth about $2,645,000. Boston Trust Walden Corp increased its holdings in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after purchasing an additional 20,020 shares during the period. Longboard Asset Management LP acquired a new position in shares of SEI Investments in the 4th quarter valued at about $267,000. New York Life Investment Management LLC purchased a new stake in shares of SEI Investments in the fourth quarter worth approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in shares of SEI Investments during the fourth quarter worth approximately $1,818,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business'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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 170,214 shares of company stock valued at $13,925,963. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

Shares of SEIC traded up $0.32 during trading hours on Thursday, hitting $84.15. 238,382 shares of the company were exchanged, compared to its average volume of 669,400. The company has a market cap of $10.47 billion, a PE ratio of 19.04, a PEG ratio of 1.41 and a beta of 0.90. The firm's 50 day moving average is $76.75 and its 200-day moving average is $79.99. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

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

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

SEIC has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Finally, Piper Sandler boosted their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, SEI Investments currently has an average rating of "Moderate Buy" and an average price target of $87.60.

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.