Proficio Capital Partners LLC Acquires Shares of 12,042 SEI Investments (NASDAQ:SEIC)

Proficio Capital Partners LLC purchased a new stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,042 shares of the asset manager's stock, valued at approximately $993,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SEIC. Geode Capital Management LLC grew its position in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock worth $174,092,000 after buying an additional 300,704 shares during the period. Boston Trust Walden Corp increased its stake in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after acquiring an additional 20,020 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after purchasing an additional 46,425 shares in the last quarter. FMR LLC grew its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock valued at $61,241,000 after acquiring an additional 632,024 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock worth $55,124,000 after purchasing an additional 3,967 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

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SEI Investments Stock Performance

SEIC stock traded up $0.84 during midday trading on Tuesday, reaching $78.27. 578,440 shares of the company's stock traded hands, compared to its average volume of 612,340. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a 50-day moving average price of $80.67 and a two-hundred day moving average price of $78.19. The firm has a market capitalization of $9.94 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed 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 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 transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 over the last quarter. 14.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, January 3rd. Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Finally, Oppenheimer increased their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of "Hold" and a consensus price target of $90.00.

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.