TD Waterhouse Canada Inc. Sells 3,963 Shares of SEI Investments (NASDAQ:SEIC)

TD Waterhouse Canada Inc. lowered its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,019 shares of the asset manager's stock after selling 3,963 shares during the period. TD Waterhouse Canada Inc.'s holdings in SEI Investments were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new stake in SEI Investments in the 4th quarter valued at about $31,000. Allworth Financial LP boosted its stake 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 buying an additional 158 shares during the period. First Horizon Advisors Inc. boosted its stake 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 buying an additional 117 shares during the period. Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after acquiring an additional 172 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Down 0.4 %

SEIC traded down $0.28 during trading on Wednesday, reaching $77.76. 123,850 shares of the company's stock were exchanged, compared to its average volume of 722,625. The firm has a fifty day moving average price of $75.05 and a two-hundred day moving average price of $79.08. The stock has a market capitalization of $9.78 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the prior year, the business posted $0.99 earnings per share. SEI Investments's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at $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 hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 over the last ninety days. 14.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SEIC. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Piper Sandler boosted their price target on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, StockNews.com raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, SEI Investments currently has an average rating of "Moderate Buy" and an average 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.