Private Advisor Group LLC Buys 306 Shares of SEI Investments (NASDAQ:SEIC)

Private Advisor Group LLC raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 9.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,550 shares of the asset manager’s stock after purchasing an additional 306 shares during the quarter. Private Advisor Group LLC’s holdings in SEI Investments were worth $246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the 2nd quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after buying an additional 386 shares during the period. Finally, Mather Group LLC. increased its position in shares of SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $80.17 on Friday. The firm has a market cap of $10.33 billion, a PE ratio of 19.36, a P/E/G ratio of 1.44 and a beta of 0.97. The business’s 50 day simple moving average is $70.69 and its 200 day simple moving average is $67.98. SEI Investments has a 52-week low of $55.64 and a 52-week high of $80.80.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a stock buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Morgan Stanley lifted their price objective on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Oppenheimer boosted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.50.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the transaction, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,646 shares of company stock worth $12,926,334. Insiders own 14.30% of the company’s stock.

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.