Voloridge Investment Management LLC Reduces Position in SEI Investments (NASDAQ:SEIC)

Voloridge Investment Management LLC lowered its position in SEI Investments (NASDAQ:SEIC - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 458,208 shares of the asset manager's stock after selling 50,828 shares during the period. Voloridge Investment Management LLC owned about 0.36% of SEI Investments worth $37,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SEIC. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% during the 4th 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. Venturi Wealth Management LLC grew its stake in shares of SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after buying an additional 144 shares during the period. Ashton Thomas Securities LLC grew its stake in shares of SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock valued at $492,000 after buying an additional 145 shares during the period. Principal Securities Inc. grew its stake in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock valued at $109,000 after buying an additional 155 shares during the period. Finally, Allworth Financial LP grew its stake in shares of 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 buying an additional 158 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the sale, the executive vice president now directly owns 13,500 shares in the company, valued at $1,137,645. This represents a 78.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 170,214 shares of company stock worth $13,925,963 in the last ninety days. 14.60% of the stock is owned by corporate insiders.

SEI Investments Price Performance

Shares of SEIC stock traded up $1.33 during trading hours on Tuesday, hitting $85.25. The company had a trading volume of 221,925 shares, compared to its average volume of 725,494. The company's fifty day moving average is $77.27 and its 200 day moving average is $80.13. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The stock has a market capitalization of $10.61 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

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

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. 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 research note 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 price target for the company in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target 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, William Blair reissued a "market perform" rating on shares of SEI Investments in a research note 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.