Virtus Investment Advisers Inc. Acquires Shares of 5,100 SEI Investments (NASDAQ:SEIC)

Virtus Investment Advisers Inc. purchased 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 Securities & Exchange Commission. The firm purchased 5,100 shares of the asset manager's stock, valued at approximately $421,000.

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

SEI Investments Price Performance

Shares of NASDAQ SEIC traded up $0.64 during midday trading on Thursday, reaching $84.47. 922,204 shares of the stock were exchanged, compared to its average volume of 673,192. The business has a 50-day simple moving average of $76.75 and a two-hundred day simple moving average of $79.99. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted 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. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. Equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEIC. William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Finally, Piper Sandler boosted 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.60.

Insider Transactions at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated 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 approximately $104,507. The trade was a 79.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated 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 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 have sold 170,214 shares of company stock worth $13,925,963 in the last ninety days. Insiders own 14.60% of the company's stock.

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.