National Bank of Canada FI Purchases 7,193 Shares of SEI Investments (NASDAQ:SEIC)

National Bank of Canada FI raised its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 242.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,162 shares of the asset manager's stock after purchasing an additional 7,193 shares during the period. National Bank of Canada FI's holdings in SEI Investments were worth $838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in 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 acquiring an additional 117 shares during the period. Venturi Wealth Management LLC lifted its position in shares of SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC grew its stake in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after acquiring an additional 145 shares during the period. Principal Securities Inc. increased its holdings in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after acquiring an additional 155 shares during the last quarter. Finally, Allworth Financial LP lifted its stake 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 valued at $38,000 after buying an additional 158 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

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SEI Investments Stock Up 0.9 %

Shares of SEIC traded up $0.66 during trading hours on Tuesday, reaching $74.11. 132,803 shares of the company traded hands, compared to its average volume of 644,487. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company's fifty day moving average price is $77.05 and its two-hundred day moving average price is $78.82. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth 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 the consensus estimate 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, analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SEIC shares. Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price target for the company from $81.00 to $77.00 in a research report on Monday, April 7th. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research note on Monday, April 7th. Oppenheimer raised their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. 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 report on Thursday, January 30th. Finally, Piper Sandler reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $86.80.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by company insiders.

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.