Royal Bank of Canada Buys 40,605 Shares of SEI Investments (NASDAQ:SEIC)

Royal Bank of Canada raised its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 387,198 shares of the asset manager's stock after buying an additional 40,605 shares during the period. Royal Bank of Canada owned about 0.30% of SEI Investments worth $31,936,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SEIC. CoreFirst Bank & Trust bought a new stake in SEI Investments during the fourth quarter worth approximately $31,000. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in SEI Investments during the fourth quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after buying an additional 172 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SEIC shares. Morgan Stanley restated an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

Insider Activity

In other news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the transaction, the executive vice president now owns 13,500 shares in the company, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by corporate insiders.

SEI Investments Stock Up 2.2%

Shares of NASDAQ:SEIC traded up $1.85 during trading on Tuesday, reaching $85.77. 447,529 shares of the company traded hands, compared to its average volume of 674,966. The firm has a fifty day simple moving average of $77.27 and a 200 day simple moving average of $80.13. The firm has a market cap of $10.68 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

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

SEI Investments declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors 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.