Focus Partners Advisor Solutions LLC Acquires Shares of 12,360 SEI Investments (NASDAQ:SEIC)

Focus Partners Advisor Solutions LLC acquired a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,360 shares of the asset manager's stock, valued at approximately $1,019,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in SEI Investments during the fourth quarter valued at $48,009,000. Raymond James Financial Inc. purchased a new position in shares of SEI Investments during the 4th quarter valued at about $42,548,000. FMR LLC lifted its holdings in shares of SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after buying an additional 348,112 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of SEI Investments in the fourth quarter worth about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of SEI Investments in the fourth quarter worth about $23,710,000. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $84.47 on Friday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.41 and a beta of 0.90. The stock has a 50 day simple moving average of $76.94 and a 200-day simple moving average of $80.05.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million during the quarter, compared to analyst estimates 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 was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. Analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SEIC. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price 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, April 25th. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. The trade was a 79.37% decrease in their ownership of the stock. 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 over the last 90 days. 14.60% of the stock is currently owned by company insiders.

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.

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