Leith Wheeler Investment Counsel Ltd. Sells 7,265 Shares of SEI Investments (NASDAQ:SEIC)

Leith Wheeler Investment Counsel Ltd. trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,217 shares of the asset manager’s stock after selling 7,265 shares during the period. SEI Investments makes up 1.2% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 20th biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in SEI Investments were worth $16,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEIC. CoreFirst Bank & Trust bought a new stake in SEI Investments during the 4th quarter valued at approximately $31,000. Allworth Financial LP grew its holdings in SEI Investments by 53.7% in 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 during the last quarter. First Horizon Advisors Inc. grew its holdings in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in SEI Investments in the 4th quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC grew its holdings in SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after buying an additional 172 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC stock opened at $77.78 on Tuesday. The stock’s fifty day simple moving average is $75.14 and its 200 day simple moving average is $79.09. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on SEIC. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating on shares of SEI Investments in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s 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 transaction, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 in the last 90 days. 14.30% of the stock is owned by corporate insiders.

SEI Investments 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.