Florida Financial Advisors LLC Takes $350,000 Position in SEI Investments (NASDAQ:SEIC)

Florida Financial Advisors LLC acquired a new position in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,249 shares of the asset manager’s stock, valued at approximately $350,000.

Several other large investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC increased its stake in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after buying an additional 144 shares during the period. Ashton Thomas Securities LLC raised its position in SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after buying an additional 145 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEIC opened at $78.27 on Wednesday. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business’s fifty day moving average is $80.62 and its two-hundred day moving average is $78.28.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate 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, analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 5.3% 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.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the 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 sale, the insider now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 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 of the company’s stock, valued at approximately $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. Insiders have sold 79,214 shares of company stock worth $6,293,903 over the last ninety days. 14.30% of the stock is currently owned by insiders.

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.