MJP Associates Inc. ADV Invests $360,000 in SEI Investments (NASDAQ:SEIC)

MJP Associates Inc. ADV purchased a new stake in SEI Investments (NASDAQ:SEIC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,366 shares of the asset manager's stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. Geode Capital Management LLC grew its holdings in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after buying an additional 20,020 shares during the last quarter. FMR LLC grew its holdings in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after purchasing an additional 46,425 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock worth $88,104,000 after purchasing an additional 184,339 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SEIC shares. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on 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 restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Three 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 company has an average rating of "Moderate Buy" and an average price target of $87.60.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the sale, the chief executive officer now directly owns 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by corporate insiders.

SEI Investments Trading Up 0.7%

Shares of SEIC stock traded up $0.61 during trading on Friday, reaching $85.38. 765,718 shares of the company's stock traded hands, compared to its average volume of 664,462. The company has a market capitalization of $10.63 billion, a P/E ratio of 19.32, a PEG ratio of 1.41 and a beta of 0.90. The firm's 50-day moving average is $75.82 and its 200 day moving average is $79.74. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. The company 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%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, sell-side 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 program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.