EverSource Wealth Advisors LLC Increases Stock Position in SEI Investments (NASDAQ:SEIC)

EverSource Wealth Advisors LLC increased its position in SEI Investments (NASDAQ:SEIC) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 860 shares of the asset manager’s stock after purchasing an additional 172 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in SEI Investments were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC boosted its stake in shares of SEI Investments by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,513 shares of the asset manager’s stock valued at $950,000 after purchasing an additional 574 shares during the period. Moors & Cabot Inc. boosted its stake in shares of SEI Investments by 5.7% in the fourth quarter. Moors & Cabot Inc. now owns 20,780 shares of the asset manager’s stock valued at $1,714,000 after purchasing an additional 1,129 shares during the period. King Luther Capital Management Corp purchased a new position in shares of SEI Investments in the fourth quarter valued at $2,645,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SEI Investments by 28.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,237 shares of the asset manager’s stock valued at $2,989,000 after acquiring an additional 8,032 shares during the last quarter. Finally, Taika Capital LP bought a new position in SEI Investments during the 4th quarter valued at $388,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SEIC. Morgan Stanley increased their price objective 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. Keefe, Bruyette & Woods reiterated 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. Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Trading Up 1.5 %

NASDAQ:SEIC opened at $76.07 on Thursday. The stock has a 50 day moving average of $80.88 and a 200-day moving average of $77.92. The firm has a market capitalization of $9.66 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

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 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 of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are generally a sign 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.