Proficio Capital Partners LLC Makes New $993,000 Investment in SEI Investments (NASDAQ:SEIC)

Proficio Capital Partners LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,042 shares of the asset manager’s stock, valued at approximately $993,000.

A number of other institutional investors also recently bought and sold shares of SEIC. Boston Trust Walden Corp increased its position in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares in the last quarter. Longboard Asset Management LP acquired a new stake in shares of SEI Investments during the fourth quarter worth about $267,000. New York Life Investment Management LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth about $863,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of SEI Investments during the fourth quarter worth about $1,818,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of SEI Investments during the fourth quarter worth about $480,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SEIC. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Morgan Stanley boosted their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Finally, Oppenheimer boosted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, SEI Investments has a consensus rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Down 0.2 %

Shares of SEIC stock opened at $75.84 on Friday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock’s 50-day moving average price is $80.71 and its 200 day moving average price is $77.96. The stock has a market capitalization of $9.63 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data 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%. Analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock buyback program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the business’s 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 owns 1,300 shares of the company’s stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is 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.