Florida Financial Advisors LLC Makes New Investment in SEI Investments (NASDAQ:SEIC)

Florida Financial Advisors LLC purchased a new stake in SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,249 shares of the asset manager’s stock, valued at approximately $350,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Boston Trust Walden Corp raised its stake in SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares during the last quarter. FMR LLC grew its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock worth $55,124,000 after buying an additional 3,967 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

SEI Investments stock opened at $78.27 on Wednesday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock’s 50 day moving average price is $80.62 and its 200 day moving average price is $78.28. The firm has a market capitalization of $9.94 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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, analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved 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 buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.