Russell Investments Group Ltd. Purchases 72,730 Shares of SEI Investments Company $SEIC

Key Points

• Russell Investments Group Ltd. boosted its stake in SEI Investments Company by 68.0%, increasing its holdings to 179,622 shares worth approximately $13.94 million.
• Insider activity revealed that 146,126 shares of SEI Investments stock were sold by insiders over the last quarter, including a significant sale by Chairman Alfred P. West, Jr.
• SEI Investments recently raised its quarterly dividend to $0.49, up from $0.46, indicating a robust 2.2% yield and reflecting the company’s solid financial performance.

Russell Investments Group Ltd. lifted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 68.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,622 shares of the asset manager's stock after buying an additional 72,730 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of SEI Investments worth $13,939,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SEIC. Meiji Yasuda Life Insurance Co lifted its stake in SEI Investments by 3.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock valued at $379,000 after buying an additional 160 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in SEI Investments by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock worth $435,000 after purchasing an additional 160 shares during the last quarter. GHE LLC boosted its holdings in SEI Investments by 2.0% during the fourth quarter. GHE LLC now owns 9,126 shares of the asset manager's stock worth $753,000 after purchasing an additional 183 shares during the last quarter. iA Global Asset Management Inc. grew its position in SEI Investments by 12.4% in the first quarter. iA Global Asset Management Inc. now owns 1,835 shares of the asset manager's stock valued at $142,000 after purchasing an additional 202 shares in the last quarter. Finally, CWM LLC grew its position in SEI Investments by 0.4% in the first quarter. CWM LLC now owns 54,828 shares of the asset manager's stock valued at $4,256,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 35,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,126 shares of company stock worth $15,540,849. Corporate insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

Shares of SEIC stock traded up $2.25 on Friday, hitting $90.39. The company's stock had a trading volume of 132,064 shares, compared to its average volume of 843,678. The stock's 50 day moving average is $88.94 and its 200-day moving average is $82.48. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a market capitalization of $11.17 billion, a PE ratio of 16.97, a PEG ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million for the quarter, compared to the consensus estimate of $550.72 million. During the same period in the prior year, the company posted $1.05 earnings per share. SEI Investments's revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's dividend payout ratio is currently 18.39%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SEIC. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $98.00 price objective (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Piper Sandler decreased their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus price target of $102.00.

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.