Orion Portfolio Solutions LLC Buys Shares of 14,009 SEI Investments (NASDAQ:SEIC)

Orion Portfolio Solutions LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,009 shares of the asset manager’s stock, valued at approximately $1,155,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in SEI Investments during the fourth quarter worth $48,009,000. Elo Mutual Pension Insurance Co bought a new stake in shares of SEI Investments during the 4th quarter worth $1,092,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in SEI Investments in the fourth quarter valued at about $709,000. Florida Financial Advisors LLC bought a new position in SEI Investments in the fourth quarter valued at about $350,000. Finally, Ashton Thomas Securities LLC raised its stake in SEI Investments by 2.5% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Down 6.1 %

Shares of NASDAQ:SEIC opened at $69.02 on Friday. The firm has a market cap of $8.76 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The business has a fifty day simple moving average of $79.41 and a 200 day simple moving average of $78.64.

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

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SEIC. Raymond James raised 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 report on Thursday, January 30th. Oppenheimer upped their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley lowered their target price on SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.20.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 over the last three months. 14.30% of the stock is 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.