Two Sigma Investments LP Buys 22,671 Shares of SEI Investments (NASDAQ:SEIC)

Two Sigma Investments LP grew its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,348 shares of the asset manager's stock after buying an additional 22,671 shares during the period. Two Sigma Investments LP owned approximately 0.14% of SEI Investments worth $14,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in SEI Investments during the 4th quarter valued at $31,000. Allworth Financial LP raised its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in SEI Investments during the 4th quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and issued a $82.00 price objective (up from $77.00) on shares of SEI Investments in a report on Thursday, April 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, Raymond James upgraded 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 report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

SEI Investments Price Performance

SEI Investments stock traded down $0.13 during midday trading on Wednesday, reaching $85.84. 249,635 shares of the company traded hands, compared to its average volume of 675,294. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business has a 50 day moving average of $77.47 and a two-hundred day moving average of $80.17.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 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 analysts' expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the sale, the insider now directly owns 23,895 shares of the company's stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,214 shares of company stock valued at $13,925,963 in the last quarter. 14.60% of the stock is currently owned by insiders.

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.