SEI Investments (NASDAQ:SEIC) Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its stake in SEI Investments (NASDAQ:SEIC) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,800 shares of the asset manager’s stock after acquiring an additional 400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in SEI Investments were worth $891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SEIC. First Horizon Advisors Inc. raised its stake in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. Allworth Financial LP raised its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after buying an additional 158 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments during the third quarter valued at approximately $45,000. Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC grew its stake in SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after acquiring an additional 172 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Price Performance

SEI Investments stock opened at $75.84 on Monday. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The stock’s 50-day moving average is $80.71 and its 200-day moving average is $78.11.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on SEIC shares. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Oppenheimer increased their price objective 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. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s 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 sale, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by corporate 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.