Raymond James Financial Inc. Has $41.31 Million Holdings in SEI Investments Company $SEIC

Key Points

• Raymond James Financial Inc. increased its holdings in SEI Investments Company by 3.2%, now owning approximately 532,195 shares valued at $41.3 million.
• SEI Investments reported $1.78 earnings per share for the last quarter, significantly exceeding analysts' expectations of $1.18, along with a 7.8% increase in revenue year-over-year.
• The company recently raised its quarterly dividend to $0.49 per share, reflecting an annual yield of 2.2%, an increase from its previous dividend of $0.46.

Raymond James Financial Inc. lifted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,195 shares of the asset manager's stock after buying an additional 16,337 shares during the period. Raymond James Financial Inc. owned about 0.43% of SEI Investments worth $41,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after buying an additional 331 shares during the period. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after buying an additional 225 shares during the period. Farther Finance Advisors LLC boosted its position in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after buying an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SEI Investments during the first quarter valued at $132,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 price objective (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Finally, Piper Sandler reduced their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

SEI Investments Trading Up 0.4%

SEIC traded up $0.35 on Wednesday, hitting $90.68. 251,011 shares of the stock traded hands, compared to its average volume of 837,906. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The firm has a market capitalization of $11.21 billion, a PE ratio of 17.01, a P/E/G ratio of 1.39 and a beta of 0.95. The business has a fifty day moving average price of $89.33 and a two-hundred day moving average price of $82.54.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (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 previous year, the company posted $1.05 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the sale, the chairman directly owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,126 shares of company stock worth $9,107,349. Company insiders own 14.30% of the company's stock.

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.