Tower Research Capital LLC TRC Acquires 1,678 Shares of SEI Investments (NASDAQ:SEIC)

Tower Research Capital LLC TRC increased its holdings in SEI Investments (NASDAQ:SEIC) by 35.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,466 shares of the asset manager’s stock after acquiring an additional 1,678 shares during the quarter. Tower Research Capital LLC TRC’s holdings in SEI Investments were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC increased its stake in shares of SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after acquiring an additional 145 shares in the last quarter. Principal Securities Inc. increased its stake in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP increased its stake 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 purchasing an additional 158 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’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 transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 in the last ninety days. 14.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Oppenheimer restated an “outperform” rating on shares of SEI Investments in a research note on Thursday. Keefe, Bruyette & Woods raised 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. William Blair restated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Piper Sandler raised 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and an average target price of $87.60.

SEI Investments Price Performance

NASDAQ SEIC opened at $77.78 on Tuesday. The business’s fifty day moving average price is $75.14 and its 200-day moving average price is $79.09. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last released 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 firm had revenue of $551.34 million for 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%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. Equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

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

About SEI Investments

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.