Ameriprise Financial Inc. Buys 93,568 Shares of SEI Investments (NASDAQ:SEIC)

Ameriprise Financial Inc. boosted its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,792 shares of the asset manager's stock after buying an additional 93,568 shares during the period. Ameriprise Financial Inc. owned about 0.37% of SEI Investments worth $39,246,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC raised its stake in SEI Investments by 4.2% during the fourth quarter. Algert Global LLC now owns 51,781 shares of the asset manager's stock worth $4,271,000 after acquiring an additional 2,091 shares in the last quarter. AXA S.A. acquired a new position in SEI Investments during the fourth quarter worth $367,000. AlTi Global Inc. raised its stake in SEI Investments by 44.6% during the fourth quarter. AlTi Global Inc. now owns 27,471 shares of the asset manager's stock worth $2,279,000 after acquiring an additional 8,470 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its stake in SEI Investments by 3.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock worth $379,000 after acquiring an additional 160 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake 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 acquiring an additional 277,252 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were 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 of the company's stock, valued at approximately $539,963,846.24. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SEIC shares. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Piper Sandler increased their target price on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Finally, Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.60.

SEI Investments Price Performance

SEIC stock traded up $0.61 during mid-day trading on Friday, reaching $85.38. The company had a trading volume of 765,718 shares, compared to its average volume of 666,241. The stock has a 50 day simple moving average of $76.04 and a two-hundred day simple moving average of $79.86. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

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

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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.