Paces Ferry Wealth Advisors LLC Purchases Shares of 2,504 SEI Investments (NASDAQ:SEIC)

Paces Ferry Wealth Advisors LLC acquired a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,504 shares of the asset manager’s stock, valued at approximately $207,000.

A number of other institutional investors also recently made changes to their positions in SEIC. King Luther Capital Management Corp bought a new stake in SEI Investments in the fourth quarter worth $2,645,000. Boston Trust Walden Corp increased 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 period. Longboard Asset Management LP bought a new stake in shares of SEI Investments in the 4th quarter valued at about $267,000. New York Life Investment Management LLC purchased a new stake in SEI Investments during the 4th quarter valued at about $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in SEI Investments during the 4th quarter worth approximately $1,818,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of several recent analyst reports. Oppenheimer raised their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley boosted their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’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 transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,214 shares of company stock worth $6,293,903. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC opened at $75.84 on Friday. The company has a 50-day simple moving average of $80.71 and a two-hundred day simple moving average of $78.03. The firm has a market capitalization of $9.63 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. Analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

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

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.