Foyston Gordon & Payne Inc Lowers Stake in SEI Investments (NASDAQ:SEIC)

Foyston Gordon & Payne Inc trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 119,723 shares of the asset manager’s stock after selling 1,780 shares during the period. SEI Investments accounts for approximately 2.6% of Foyston Gordon & Payne Inc’s portfolio, making the stock its 15th largest position. Foyston Gordon & Payne Inc owned about 0.09% of SEI Investments worth $9,875,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the 4th quarter worth $31,000. Allworth Financial LP lifted its position in 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 purchasing an additional 158 shares during the period. First Horizon Advisors Inc. lifted its position in 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. Rialto Wealth Management LLC purchased a new stake in SEI Investments in the 4th quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC increased its position in SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’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 transaction, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last three months. 14.30% of the stock is currently owned by insiders.

SEI Investments Trading Up 0.2 %

NASDAQ:SEIC opened at $81.49 on Friday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a market capitalization 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. The firm has a 50-day moving average price of $75.17 and a two-hundred day moving average price of $79.46.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the previous year, the firm posted $0.99 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors 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 buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SEIC. William Blair restated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Oppenheimer restated an “outperform” rating on shares of SEI Investments in a research report on Thursday, April 24th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James upgraded shares of 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. Finally, Piper Sandler increased their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

SEI Investments 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.