CoreCap Advisors LLC Grows Position in SEI Investments (NASDAQ:SEIC)

CoreCap Advisors LLC lifted its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 10,379.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,117 shares of the asset manager's stock after buying an additional 9,030 shares during the quarter. CoreCap Advisors LLC's holdings in SEI Investments were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. raised its holdings 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 in the last quarter. Venturi Wealth Management LLC raised its stake in 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 acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC raised its stake in 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 acquiring an additional 145 shares in the last quarter. Principal Securities Inc. raised its stake in 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 acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP raised its stake in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the business's 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,214 shares of company stock worth $6,293,903. 14.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SEIC. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective 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. Morgan Stanley restated an "overweight" rating and issued a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. 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 given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $87.60.

SEI Investments Trading Up 1.3%

Shares of NASDAQ:SEIC traded up $1.07 during midday trading on Thursday, hitting $84.44. The stock had a trading volume of 424,302 shares, compared to its average volume of 660,084. The company has a market capitalization of $10.51 billion, a PE ratio of 19.12, a P/E/G ratio of 1.41 and a beta of 0.90. The stock has a 50 day moving average price of $75.61 and a two-hundred day moving average price of $79.67. 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 issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share 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 the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, equities analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.