SEI Investments (NASDAQ:SEIC) Shares Purchased by AlTi Global Inc.

AlTi Global Inc. increased its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,471 shares of the asset manager's stock after acquiring an additional 8,470 shares during the quarter. AlTi Global Inc.'s holdings in SEI Investments were worth $2,279,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SEIC. Norges Bank acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $48,009,000. Raymond James Financial Inc. purchased a new position in SEI Investments in the 4th quarter worth approximately $42,548,000. FMR LLC raised its stake 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 purchasing an additional 348,112 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of SEI Investments during the fourth quarter worth $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of SEI Investments in the fourth quarter valued at $23,710,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $87.60.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.67 during trading on Wednesday, reaching $80.52. The stock had a trading volume of 701,449 shares, compared to its average volume of 656,646. The firm's 50 day moving average price is $75.01 and its two-hundred day moving average price is $79.32. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a market cap of $10.02 billion, a PE ratio of 18.22, a P/E/G ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly 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 net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. During the same period last year, the firm posted $0.99 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by insiders.

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.