Jump Financial LLC Takes $3.08 Million Position in SEI Investments (NASDAQ:SEIC)

Jump Financial LLC bought a new position in SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,282 shares of the asset manager’s stock, valued at approximately $3,075,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments in the 4th quarter valued at $31,000. Allworth Financial LP lifted its stake in SEI Investments by 53.7% during 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 in the last quarter. First Horizon Advisors Inc. boosted its holdings 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 worth $48,000 after buying an additional 117 shares during the period. Rialto Wealth Management LLC purchased a new position in shares of SEI Investments in the fourth quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after acquiring an additional 172 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler dropped their price target on SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Morgan Stanley upgraded SEI Investments from an “underweight” rating to an “overweight” rating and dropped their target price for the company from $81.00 to $77.00 in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $86.80.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’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 transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the 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 owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock worth $6,293,903 in the last 90 days. 14.30% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $71.66 on Friday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business’s 50-day moving average price is $76.26 and its two-hundred day moving average price is $78.74. The company has a market capitalization of $9.10 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate 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 anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a share repurchase plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

SEI Investments Company 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.