Ameriprise Financial Inc. Raises Position in SEI Investments Company $SEIC

Key Points

• Ameriprise Financial Inc. increased its holdings in SEI Investments by 4.7% during the first quarter, owning 498,088 shares valued at approximately $38.67 million.
• Several other institutional investors also raised their stakes, with Candriam S.C.A. boosting its position by 238.3% during the same period.
• Analysts have mixed views on SEI Investments, with target prices ranging from $93 to $118, while the stock currently holds a "Moderate Buy" rating with an average target of $102.

Ameriprise Financial Inc. grew its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,088 shares of the asset manager's stock after acquiring an additional 22,296 shares during the quarter. Ameriprise Financial Inc. owned about 0.40% of SEI Investments worth $38,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEIC. Lord Abbett & CO. LLC bought a new stake in SEI Investments during the first quarter worth $51,773,000. GAMMA Investing LLC grew its holdings in SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after buying an additional 465,646 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in SEI Investments by 108.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 532,336 shares of the asset manager's stock worth $43,907,000 after buying an additional 277,252 shares in the last quarter. Nuveen LLC bought a new stake in SEI Investments during the first quarter worth $21,407,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SEI Investments by 38.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock worth $62,358,000 after buying an additional 209,850 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

SEI Investments Stock Down 0.8%

Shares of SEI Investments stock traded down $0.75 during trading on Tuesday, hitting $87.53. 284,762 shares of the stock traded hands, compared to its average volume of 833,833. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.37 and a beta of 0.98. The firm's fifty day moving average is $89.76 and its 200-day moving average is $82.71. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the company earned $1.05 EPS. The company's revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SEIC shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 price objective (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Raymond James Financial upped their price target on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer increased their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Piper Sandler dropped their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.00.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on 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 directly owned 1,300 shares in the company, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at $15,122,258. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.30% of the company's stock.

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.