Russell Investments Group Ltd. Has $13.94 Million Position in 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. increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 68.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 179,622 shares of the asset manager's stock after purchasing an additional 72,730 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of SEI Investments worth $13,939,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SEIC. Prudential PLC increased its position in shares of SEI Investments by 151.5% during the first quarter. Prudential PLC now owns 6,109 shares of the asset manager's stock worth $474,000 after acquiring an additional 3,680 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in SEI Investments by 3.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 32,265 shares of the asset manager's stock worth $2,503,000 after purchasing an additional 1,046 shares in the last quarter. Taylor Hoffman Capital Management LLC raised its stake in shares of SEI Investments by 2.3% in the 1st quarter. Taylor Hoffman Capital Management LLC now owns 66,709 shares of the asset manager's stock valued at $5,155,000 after purchasing an additional 1,524 shares during the period. Nuveen LLC bought a new stake in shares of SEI Investments in the first quarter valued at about $21,407,000. Finally, Aigen Investment Management LP acquired a new position in shares of SEI Investments during the first quarter worth about $216,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the sale, the chairman owned 6,937,582 shares in the company, valued at $584,699,410.96. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,126 shares of company stock valued at $12,450,349 over the last quarter. 14.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer lifted their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial boosted their price objective on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.00.

SEI Investments Stock Down 0.7%

Shares of SEI Investments stock opened at $88.19 on Monday. The stock has a market cap of $10.90 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The business's 50 day moving average is $88.60 and its 200-day moving average is $82.36.

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

SEI Investments Increases Dividend

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

About SEI Investments

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.

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