Evolution Advisers Inc. Takes $55,000 Position in SEI Investments (NASDAQ:SEIC)

Evolution Advisers Inc. acquired a new stake in SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 873 shares of the asset manager’s stock, valued at approximately $55,000.

Several other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its position in shares of SEI Investments by 73.1% during the third quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock worth $67,798,000 after purchasing an additional 475,226 shares during the period. Acadian Asset Management LLC raised its position in SEI Investments by 299.3% during the third quarter. Acadian Asset Management LLC now owns 477,981 shares of the asset manager’s stock valued at $28,778,000 after buying an additional 358,282 shares during the period. Envestnet Asset Management Inc. raised its position in SEI Investments by 69.3% during the third quarter. Envestnet Asset Management Inc. now owns 381,037 shares of the asset manager’s stock valued at $22,950,000 after buying an additional 155,991 shares during the period. FMR LLC raised its position in SEI Investments by 43.8% during the third quarter. FMR LLC now owns 360,732 shares of the asset manager’s stock valued at $21,727,000 after buying an additional 109,962 shares during the period. Finally, Barclays PLC increased its position in SEI Investments by 76.2% in the 3rd quarter. Barclays PLC now owns 247,271 shares of the asset manager’s stock worth $14,892,000 after purchasing an additional 106,967 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In related news, EVP Wayne Withrow sold 16,970 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the sale, the executive vice president now owns 55,399 shares in the company, valued at approximately $3,665,197.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the sale, the executive vice president now owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now directly owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Insiders sold a total of 206,333 shares of company stock worth $14,481,612 in the last 90 days. 15.50% of the stock is owned by company insiders.

SEI Investments Stock Performance

Shares of SEIC traded down $0.12 during trading hours on Thursday, hitting $66.48. 892,775 shares of the company were exchanged, compared to its average volume of 581,138. The firm’s 50 day moving average is $68.56 and its 200-day moving average is $63.33. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The company has a market cap of $8.74 billion, a PE ratio of 19.21, a PEG ratio of 1.37 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The firm had revenue of $511.58 million during the quarter, compared to the consensus estimate of $510.41 million. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that SEI Investments will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SEIC has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $74.00 target price (up from $72.00) on shares of SEI Investments in a research report on Thursday. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Piper Sandler decreased their price target on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.00.

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.