Portfolio Design Labs LLC Invests $1.70 Million in SEI Investments (NASDAQ:SEIC)

Portfolio Design Labs LLC bought a new position in SEI Investments (NASDAQ:SEIC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,580 shares of the asset manager’s stock, valued at approximately $1,701,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments in the 2nd quarter worth about $30,000. First Horizon Advisors Inc. grew its stake in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of 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 acquiring an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after purchasing an additional 386 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

SEI Investments Trading Down 1.4 %

SEIC stock opened at $79.46 on Wednesday. The company has a market capitalization of $10.24 billion, a P/E ratio of 19.19, a PEG ratio of 1.52 and a beta of 0.97. The firm has a 50 day simple moving average of $72.90 and a 200-day simple moving average of $68.79. SEI Investments has a twelve month low of $57.43 and a twelve month high of $81.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. On average, research analysts predict that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,646 shares of company stock valued at $14,115,934. Corporate 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.