Focus Partners Wealth Makes New $281,000 Investment in SEI Investments (NASDAQ:SEIC)

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

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC boosted its position in SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock worth $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC lifted its position in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after purchasing an additional 145 shares during the last quarter. Principal Securities Inc. increased its position in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SEIC. Morgan Stanley restated an "overweight" rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.60.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the transaction, the chief executive officer now owns 171,260 shares in the company, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 50,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the sale, the executive vice president now directly owns 13,500 shares of the company's stock, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,214 shares of company stock valued at $13,925,963. 14.60% of the stock is currently owned by insiders.

SEI Investments Trading Up 2.1%

Shares of SEIC traded up $1.80 during trading hours on Tuesday, hitting $85.72. 414,097 shares of the stock traded hands, compared to its average volume of 727,670. The business has a fifty day moving average of $77.27 and a 200-day moving average of $80.13. The firm has a market capitalization of $10.67 billion, a PE ratio of 19.39, a price-to-earnings-growth 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 - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same quarter last year, the firm earned $0.99 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership 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.