Portside Wealth Group LLC Boosts Position in SEI Investments (NASDAQ:SEIC)

Portside Wealth Group LLC grew its position in SEI Investments (NASDAQ:SEIC) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,732 shares of the asset manager’s stock after buying an additional 438 shares during the quarter. Portside Wealth Group LLC’s holdings in SEI Investments were worth $327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SEIC. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after purchasing an additional 386 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In related news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,646 shares of company stock valued at $14,115,934 in the last ninety days. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 0.1 %

NASDAQ SEIC opened at $80.11 on Friday. The company has a market capitalization of $10.33 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The business’s 50-day moving average price is $70.94 and its 200 day moving average price is $68.08. SEI Investments has a twelve month low of $55.64 and a twelve month high of $80.81.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts predict that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer raised their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Company 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.