Envestnet Portfolio Solutions Inc. Has $917,000 Stake in SEI Investments (NASDAQ:SEIC)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 29.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,119 shares of the asset manager’s stock after acquiring an additional 2,542 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SEI Investments were worth $917,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC grew its holdings in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. Raymond James Financial Inc. acquired a new position in SEI Investments during the fourth quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC acquired a new position in SEI Investments during the fourth quarter valued at approximately $26,702,000. Geode Capital Management LLC grew its holdings in SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the period. Finally, Portman Square Capital LLP grew its holdings in SEI Investments by 113.1% during the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after purchasing an additional 149,840 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC opened at $75.84 on Monday. The firm’s 50 day moving average price is $80.71 and its two-hundred day moving average price is $78.11. The firm has a market cap of $9.63 billion, a P/E ratio of 17.16, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. On average, sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated 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 repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $401,950.00. Following the completion of 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 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 over the last 90 days. 14.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SEIC. Oppenheimer boosted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Piper Sandler lifted their price target 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. Finally, Morgan Stanley lifted their price target 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.00.

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.