Paces Ferry Wealth Advisors LLC Takes $207,000 Position in SEI Investments (NASDAQ:SEIC)

Paces Ferry Wealth Advisors LLC acquired a new position in SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,504 shares of the asset manager’s stock, valued at approximately $207,000.

Other hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp bought a new stake in shares of SEI Investments during the 4th quarter valued at about $2,645,000. Boston Trust Walden Corp boosted its holdings in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after buying an additional 20,020 shares during the last quarter. Longboard Asset Management LP bought a new stake in SEI Investments during the fourth quarter valued at approximately $267,000. New York Life Investment Management LLC purchased a new stake in SEI Investments during the fourth quarter valued at approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in SEI Investments in the fourth quarter worth approximately $1,818,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 0.2 %

Shares of SEI Investments stock opened at $75.84 on Friday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The stock’s 50-day simple moving average is $80.71 and its 200-day simple moving average is $78.03. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, equities 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 share repurchase program on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SEIC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, Morgan Stanley raised their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SEI Investments has an average rating of “Hold” and an average target price of $90.00.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% 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.