SEI Investments (NASDAQ:SEIC) Shares Sold by Toronto Dominion Bank

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

Several other institutional investors and hedge funds have also made changes to their positions in SEIC. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC raised its stake in shares of SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock worth $174,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC raised its stake in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after buying an additional 145 shares in the last quarter. Principal Securities Inc. raised its stake in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after buying an additional 155 shares in the last quarter. Finally, Allworth Financial LP increased its stake in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

SEI Investments stock traded up $1.83 during midday trading on Tuesday, reaching $85.75. The stock had a trading volume of 475,700 shares, compared to its average volume of 675,155. The stock's 50-day simple moving average is $77.27 and its 200 day simple moving average is $80.13. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market capitalization of $10.67 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating 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 company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same period last year, the company posted $0.99 earnings per share. The firm's revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

Insider Transactions at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider now directly owns 23,895 shares of the company's stock, valued at $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the transaction, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,214 shares of company stock valued at $13,925,963. 14.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SEIC shares. Piper Sandler raised their price objective on 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 restated an "overweight" rating and set a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Finally, William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.60.

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.