King Luther Capital Management Corp Invests $2.65 Million in SEI Investments (NASDAQ:SEIC)

King Luther Capital Management Corp bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,063 shares of the asset manager's stock, valued at approximately $2,645,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Aurora Investment Counsel lifted its stake in shares of SEI Investments by 0.6% during the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock worth $1,741,000 after purchasing an additional 144 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock worth $174,000 after purchasing an additional 144 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after purchasing an additional 155 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

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SEI Investments Trading Up 2.6 %

SEI Investments stock traded up $1.90 during midday trading on Friday, hitting $73.98. The stock had a trading volume of 556,525 shares, compared to its average volume of 597,838. The stock has a market cap of $9.39 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The business has a fifty day moving average price of $81.25 and a 200 day moving average price of $77.75.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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, equities analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 completion of the transaction, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,256 shares of company stock valued at $10,729,443 over the last three months. 14.30% of the stock is owned by insiders.

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.