Clark Capital Management Group Inc. Purchases New Position in SEI Investments (NASDAQ:SEIC)

Clark Capital Management Group Inc. acquired a new position in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,012 shares of the asset manager’s stock, valued at approximately $1,238,000.

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

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by corporate insiders.

SEI Investments Trading Up 0.2 %

SEI Investments stock opened at $81.49 on Friday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The company has a fifty day simple moving average of $75.17 and a 200 day simple moving average of $79.46. The company has a market cap of $10.14 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a share repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SEIC. Piper Sandler raised their target price on SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. William Blair restated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Oppenheimer reissued an “outperform” rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

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.