Ashton Thomas Securities LLC Acquires 145 Shares of SEI Investments (NASDAQ:SEIC)

Ashton Thomas Securities LLC raised its holdings in SEI Investments (NASDAQ:SEIC) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,969 shares of the asset manager’s stock after buying an additional 145 shares during the period. Ashton Thomas Securities LLC’s holdings in SEI Investments were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP raised its stake in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. raised its stake in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments in the 3rd quarter valued at about $45,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of SEI Investments during the 4th quarter worth approximately $55,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SEIC. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reaffirmed 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 upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Finally, Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock worth $6,293,903 in the last 90 days. Insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 1.1 %

SEIC opened at $78.27 on Wednesday. The company has a market cap of $9.94 billion, a P/E ratio of 17.71, a PEG ratio of 1.41 and a beta of 0.94. The company’s 50 day moving average is $80.62 and its 200-day moving average is $78.28. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, equities analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a stock 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 reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.