Investment Management Corp VA ADV Buys Shares of 7,789 SEI Investments (NASDAQ:SEIC)

Investment Management Corp VA ADV bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,789 shares of the asset manager's stock, valued at approximately $642,000. SEI Investments makes up approximately 0.6% of Investment Management Corp VA ADV's investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in SEIC. CoreFirst Bank & Trust bought a new stake in SEI Investments during the 4th quarter worth approximately $31,000. Allworth Financial LP boosted its stake in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the fourth quarter worth $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Piper Sandler increased their price target 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. Morgan Stanley reissued an "overweight" rating and issued a $82.00 price target (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and an average price target of $87.60.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,214 shares of company stock valued at $13,925,963. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Performance

SEI Investments stock traded down $0.26 during trading hours on Wednesday, reaching $85.71. 378,982 shares of the company's stock traded hands, compared to its average volume of 675,999. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The firm's 50 day moving average is $77.47 and its 200-day moving average is $80.17.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period last year, the firm earned $0.99 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that SEI Investments will post 4.86 EPS for the current year.

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