SEI Investments (NASDAQ:SEIC) Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lessened its position in SEI Investments (NASDAQ:SEIC) by 23.3% during the fourth quarter, Holdings Channel reports. The fund owned 13,019 shares of the asset manager’s stock after selling 3,963 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in SEI Investments were worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SEIC. First Horizon Advisors Inc. grew its position in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC increased its position in SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 145 shares during the period. Principal Securities Inc. raised its stake in SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP boosted its position in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research note on Thursday. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Thursday. William Blair reissued a “market perform” rating on shares of SEI Investments in a report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.80.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the company’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 value of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by corporate insiders.

SEI Investments Price Performance

SEIC stock opened at $78.70 on Friday. The firm has a market cap of $9.90 billion, a PE ratio of 17.81, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $78.86.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

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

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.