Edgestream Partners L.P. Invests $2.32 Million in SEI Investments (NASDAQ:SEIC)

Edgestream Partners L.P. acquired a new position in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,477 shares of the asset manager's stock, valued at approximately $2,316,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments during the 2nd quarter worth about $30,000. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock worth $41,000 after buying an additional 275 shares during the period. Finally, Mather Group LLC. boosted its position in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock valued at $50,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SEIC shares. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $77.50.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction on 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 owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,064 shares of company stock valued at $5,173,529 over the last ninety days. 14.30% of the stock is owned by corporate insiders.

SEI Investments Trading Down 0.3 %

SEIC stock traded down $0.22 during mid-day trading on Tuesday, hitting $81.70. The stock had a trading volume of 421,994 shares, compared to its average volume of 592,196. The firm has a fifty day simple moving average of $75.40 and a 200 day simple moving average of $69.63. The firm has a market capitalization of $10.53 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.55 and a beta of 0.98. SEI Investments has a 52 week low of $59.42 and a 52 week high of $83.15.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. During the same period in the prior year, the company earned $0.87 earnings per share. The company's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.