Carbahal Olsen Financial Services Group LLC Makes New Investment in SEI Investments (NASDAQ:SEIC)

Carbahal Olsen Financial Services Group LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,000 shares of the asset manager's stock, valued at approximately $330,000. SEI Investments makes up about 0.3% of Carbahal Olsen Financial Services Group LLC's holdings, making the stock its 21st biggest holding.

A number of other institutional investors have also modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter worth approximately $31,000. Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of SEI Investments in the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after acquiring an additional 172 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 related news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at $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 valued at $6,293,903 in the last three months. Corporate insiders own 14.30% of the company's stock.

SEI Investments Price Performance

SEIC traded up $1.10 during trading hours on Wednesday, reaching $73.00. 949,437 shares of the stock traded hands, compared to its average volume of 652,695. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.41 and a beta of 0.90. The firm's fifty day simple moving average is $75.58 and its two-hundred day simple moving average is $78.84.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, research analysts predict that SEI Investments will post 4.86 earnings per share for the current 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.

Analysts Set New Price Targets

A number of research firms have recently commented on SEIC. 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 report on Thursday, January 30th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley upgraded shares of SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price objective for the stock from $81.00 to $77.00 in a research note on Monday, April 7th. StockNews.com lowered shares of SEI Investments from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.80.

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.