Raymond James Trust N.A. Has $642,000 Stake in SEI Investments (NASDAQ:SEIC)

Raymond James Trust N.A. raised its position in SEI Investments (NASDAQ:SEIC) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,282 shares of the asset manager’s stock after buying an additional 343 shares during the quarter. Raymond James Trust N.A.’s holdings in SEI Investments were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD bought a new position in SEI Investments in the second quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after buying an additional 386 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $81.57 on Tuesday. SEI Investments has a 52 week low of $57.43 and a 52 week high of $81.97. The firm has a market cap of $10.52 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97. The firm’s fifty day moving average is $74.00 and its 200-day moving average is $69.13.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the previous year, the company posted $0.87 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SEIC. Piper Sandler increased their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.50.

Insiders Place Their Bets

In other news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. The trade was a 0.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,064 shares of company stock worth $9,282,489. 14.30% 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.