Focus Partners Wealth Takes Position in SEI Investments (NASDAQ:SEIC)

Focus Partners Wealth purchased a new position in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,406 shares of the asset manager's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also made changes to their positions in SEIC. SG Americas Securities LLC lifted its holdings in shares of SEI Investments by 89.9% in the 4th quarter. SG Americas Securities LLC now owns 24,799 shares of the asset manager's stock valued at $2,045,000 after purchasing an additional 11,739 shares during the last quarter. DGS Capital Management LLC lifted its stake in SEI Investments by 14.7% in the fourth quarter. DGS Capital Management LLC now owns 13,213 shares of the asset manager's stock valued at $1,090,000 after buying an additional 1,695 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in SEI Investments by 11.9% in the fourth quarter. First Citizens Bank & Trust Co. now owns 9,855 shares of the asset manager's stock valued at $813,000 after buying an additional 1,047 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of SEI Investments by 24.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,189 shares of the asset manager's stock valued at $428,000 after acquiring an additional 1,029 shares during the period. Finally, Blue Trust Inc. grew its position in shares of SEI Investments by 17.9% during the fourth quarter. Blue Trust Inc. now owns 3,745 shares of the asset manager's stock worth $309,000 after acquiring an additional 568 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at $568,868,356. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the sale, the insider now owns 23,895 shares of the company's stock, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 170,214 shares of company stock worth $13,925,963 in the last quarter. Company insiders own 14.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SEIC. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Piper Sandler lifted their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $0.14 during trading hours on Wednesday, hitting $85.83. The company's stock had a trading volume of 118,225 shares, compared to its average volume of 674,720. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The business's 50-day moving average is $77.47 and its two-hundred day moving average is $80.17. The company has a market capitalization of $10.69 billion, a PE ratio of 19.46, a PEG ratio of 1.41 and a beta of 0.90.

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

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.