New Age Alpha Advisors LLC Raises Stock Position in SEI Investments Company $SEIC

Key Points

• New Age Alpha Advisors LLC boosted its SEI Investments stake by 280% in the fourth quarter, ending with 47,153 shares worth about $3.87 million.
• Wall Street sentiment remains positive: seven analysts rate SEIC a Buy and one rates it Hold, with an average Moderate Buy target price of $103.
• SEI Investments recently beat earnings expectations, reporting $1.44 EPS versus the $1.29 estimate, while revenue rose 12.9% year over year to $622.18 million.

New Age Alpha Advisors LLC increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 280.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,153 shares of the asset manager's stock after purchasing an additional 34,745 shares during the period. New Age Alpha Advisors LLC's holdings in SEI Investments were worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SEIC. Bison Wealth LLC purchased a new position in shares of SEI Investments during the fourth quarter worth $207,000. Baird Financial Group Inc. purchased a new position in shares of SEI Investments during the first quarter worth $201,000. Geneos Wealth Management Inc. raised its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp raised its holdings in shares of SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after purchasing an additional 341 shares during the last quarter. Finally, CW Advisors LLC purchased a new position in shares of SEI Investments during the second quarter worth $280,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

SEIC has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Raymond James Financial reissued an "outperform" rating and set a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. UBS Group initiated coverage on shares of SEI Investments in a research note on Wednesday, February 4th. They set a "buy" rating and a $115.00 target price on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average rating of "Moderate Buy" and an average target price of $103.00.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 7,447 shares of SEI Investments stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $79.26, for a total value of $590,249.22. Following the sale, the chairman directly owned 6,875,783 shares in the company, valued at approximately $544,974,560.58. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Philip Mccabe sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the transaction, the insider owned 54,884 shares in the company, valued at approximately $5,039,448.88. This trade represents a 21.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 120,447 shares of company stock valued at $10,235,499. Corporate insiders own 4.80% of the company's stock.

SEI Investments Stock Performance

SEIC stock opened at $90.53 on Tuesday. The company's 50-day simple moving average is $83.68 and its 200-day simple moving average is $83.15. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $93.96. The firm has a market cap of $10.89 billion, a P/E ratio of 15.45 and a beta of 1.00.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same period in the prior year, the company posted $1.17 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.