Dark Forest Capital Management LP Reduces Holdings in SEI Investments (NASDAQ:SEIC)

Dark Forest Capital Management LP trimmed its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 77.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,564 shares of the asset manager's stock after selling 25,662 shares during the quarter. Dark Forest Capital Management LP's holdings in SEI Investments were worth $624,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP raised its position in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing 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 valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after purchasing an additional 172 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 completion of the transaction, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, 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 worth $6,293,903 in the last 90 days. Insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

SEIC has been the topic of several research reports. StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Thursday. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a research report on Thursday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.60.

SEI Investments Trading Down 1.0 %

Shares of SEI Investments stock traded down $0.81 during trading hours on Monday, reaching $77.78. The stock had a trading volume of 687,717 shares, compared to its average volume of 652,273. The stock's 50 day moving average is $75.14 and its 200 day moving average is $79.09. The firm has a market capitalization of $9.78 billion, a PE ratio of 17.60, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are 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.