Tower Research Capital LLC TRC Increases Stock Position in SEI Investments (NASDAQ:SEIC)

Tower Research Capital LLC TRC grew its stake in SEI Investments (NASDAQ:SEIC) by 35.0% 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 6,466 shares of the asset manager’s stock after buying an additional 1,678 shares during the period. Tower Research Capital LLC TRC’s holdings in SEI Investments were worth $533,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp bought a new position in shares of SEI Investments in the 4th quarter worth $2,645,000. Boston Trust Walden Corp increased its holdings in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after buying an additional 20,020 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of SEI Investments in the 4th quarter worth $267,000. New York Life Investment Management LLC bought a new position in shares of SEI Investments in the 4th quarter worth $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of SEI Investments in the 4th quarter worth $1,818,000. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other news, 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 completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’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 directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 in the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Down 1.0 %

Shares of SEIC opened at $77.78 on Tuesday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 17.60, a PEG ratio of 1.41 and a beta of 0.90. The firm has a fifty day simple moving average of $75.14 and a two-hundred day simple moving average of $79.09. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to analysts’ expectations of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm’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 company posted $0.99 EPS. Sell-side analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SEIC shares. StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Raymond James raised 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 research note on Thursday, January 30th. Oppenheimer reaffirmed an “outperform” rating on shares of SEI Investments in a research note on Thursday. Piper Sandler upped their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

SEI Investments 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.