SEI Investments (NASDAQ:SEIC) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,889 shares of the asset manager's stock after acquiring an additional 7,467 shares during the period. Price T Rowe Associates Inc. MD's holdings in SEI Investments were worth $5,271,000 as of its most recent SEC filing.

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

SEI Investments Price Performance

SEIC traded up $0.78 during trading hours on Thursday, reaching $81.34. The company's stock had a trading volume of 499,763 shares, compared to its average volume of 656,714. The stock has a market cap of $10.13 billion, a PE ratio of 18.40, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The business's 50-day moving average is $75.02 and its 200-day moving average is $79.33.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same period in the prior year, the business posted $0.99 EPS. The company's revenue was up 7.8% compared to the same quarter last year. Analysts expect that SEI Investments will post 4.86 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SEIC shares. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.60.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock valued at $6,293,903. 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.