Abacus FCF Advisors LLC Purchases 9,672 Shares of SEI Investments (NASDAQ:SEIC)

Abacus FCF Advisors LLC raised its position in SEI Investments (NASDAQ:SEIC - Free Report) by 46.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,499 shares of the asset manager's stock after acquiring an additional 9,672 shares during the period. Abacus FCF Advisors LLC's holdings in SEI Investments were worth $2,516,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp bought a new position in shares of SEI Investments in the 4th quarter worth $2,645,000. Boston Trust Walden Corp raised its holdings 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 buying an additional 20,020 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of SEI Investments in the fourth quarter valued at $267,000. New York Life Investment Management LLC acquired a new position in shares of SEI Investments during the fourth quarter valued at about $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of SEI Investments during the fourth quarter worth about $1,818,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler cut their target price 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. Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price target for the stock from $81.00 to $77.00 in a report on Monday, April 7th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Finally, Oppenheimer upped their target price 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $86.80.

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Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. 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 over the last three months. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Up 1.9 %

SEI Investments stock traded up $1.34 during mid-day trading on Friday, reaching $72.38. 908,815 shares of the company's stock were exchanged, compared to its average volume of 646,360. The business's fifty day simple moving average is $77.31 and its 200 day simple moving average is $78.79. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The firm has a market capitalization of $9.19 billion, a PE ratio of 16.38, a P/E/G ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly 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 return on equity of 25.51% and a net margin of 27.35%. On average, sell-side analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has approved a share buyback 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 purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.