Elo Mutual Pension Insurance Co Buys Shares of 13,240 SEI Investments (NASDAQ:SEIC)

Elo Mutual Pension Insurance Co purchased a new position in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 13,240 shares of the asset manager’s stock, valued at approximately $1,092,000.

A number of other hedge funds also recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC increased its holdings in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after acquiring an additional 144 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after acquiring an additional 145 shares during the last quarter. Principal Securities Inc. raised its stake in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP lifted its holdings 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 purchasing an additional 158 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SEI Investments Stock Down 1.3 %

SEI Investments stock opened at $77.11 on Monday. The firm has a fifty day simple moving average of $80.33 and a two-hundred day simple moving average of $78.52. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a market capitalization of $9.79 billion, a PE ratio of 17.45, a P/E/G ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released 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%. As a group, equities analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by insiders.

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.