Interval Partners LP Cuts Stock Position in SEI Investments (NASDAQ:SEIC)

Interval Partners LP decreased its position in shares of SEI Investments (NASDAQ:SEIC) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,473 shares of the asset manager’s stock after selling 41,769 shares during the period. Interval Partners LP owned about 0.15% of SEI Investments worth $16,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments during the fourth quarter worth about $31,000. Allworth Financial LP increased its stake 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 buying an additional 158 shares during the period. First Horizon Advisors Inc. lifted its holdings in 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 buying an additional 117 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in SEI Investments in the 4th quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC boosted its position in SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after buying an additional 172 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SEIC has been the topic of several analyst reports. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods increased their price target on SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley reissued an “overweight” rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler raised 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. Finally, Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.60.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $81.49 on Friday. The stock’s 50-day simple moving average is $75.17 and its 200-day simple moving average is $79.52. The firm has a market capitalization of $10.14 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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

SEI Investments announced that its board has approved a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm’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 transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their position. 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 ninety days. Insiders own 14.30% of the company’s stock.

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.