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

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

Several other large investors also recently added to or reduced their stakes in the business. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 4th quarter worth $31,000. Allworth Financial LP boosted 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 buying an additional 158 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares during the period. Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after buying an additional 172 shares during the period. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

Shares of SEIC stock traded up $2.05 during mid-day trading on Tuesday, reaching $85.97. The company's stock had a trading volume of 942,086 shares, compared to its average volume of 730,727. 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 $10.70 billion, a P/E ratio of 19.45, a PEG ratio of 1.41 and a beta of 0.90. The firm's 50-day moving average is $77.27 and its two-hundred day moving average is $80.13.

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 company had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same quarter in the prior year, the company posted $0.99 EPS. The business's revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a stock repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on SEIC shares. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a 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. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $82.00 price target (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Finally, 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 report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $87.60.

Insider Activity

In related news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the sale, the insider now owns 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of the 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 sale, the chief executive officer now owns 171,260 shares of the company's stock, valued at $14,276,233.60. This trade represents a 10.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is currently owned by corporate insiders.

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.