Toronto Dominion Bank Sells 10,081 Shares of SEI Investments (NASDAQ:SEIC)

Toronto Dominion Bank decreased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 24.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,910 shares of the asset manager's stock after selling 10,081 shares during the period. Toronto Dominion Bank's holdings in SEI Investments were worth $2,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of SEI Investments by 89.9% in the fourth quarter. SG Americas Securities LLC now owns 24,799 shares of the asset manager's stock worth $2,045,000 after purchasing an additional 11,739 shares in the last quarter. DGS Capital Management LLC lifted its position in SEI Investments by 14.7% during the 4th quarter. DGS Capital Management LLC now owns 13,213 shares of the asset manager's stock worth $1,090,000 after buying an additional 1,695 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of SEI Investments by 11.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 9,855 shares of the asset manager's stock worth $813,000 after buying an additional 1,047 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of SEI Investments by 24.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,189 shares of the asset manager's stock valued at $428,000 after acquiring an additional 1,029 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of SEI Investments by 17.9% in the fourth quarter. Blue Trust Inc. now owns 3,745 shares of the asset manager's stock valued at $309,000 after acquiring an additional 568 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 0.0%

SEIC stock traded up $0.02 during mid-day trading on Wednesday, hitting $85.99. The stock had a trading volume of 160,062 shares, compared to its average volume of 675,080. The firm has a fifty day simple moving average of $77.47 and a 200 day simple moving average of $80.17. The firm has a market capitalization of $10.70 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 52 week low of $62.38 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities 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 initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer now directly owns 171,260 shares in the company, valued at approximately $14,276,233.60. This represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares of the company's stock, valued at $539,963,846.24. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock valued at $13,925,963 in the last quarter. Insiders own 14.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SEIC. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods boosted 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. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.60.

SEI Investments Company 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.