Ashton Thomas Securities LLC Has $492,000 Stock Position in SEI Investments (NASDAQ:SEIC)

Ashton Thomas Securities LLC raised its position in shares of SEI Investments (NASDAQ:SEIC) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,969 shares of the asset manager’s stock after purchasing an additional 145 shares during the quarter. Ashton Thomas Securities LLC’s holdings in SEI Investments were worth $492,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments in the 4th quarter valued at $31,000. Allworth Financial LP boosted its position in SEI Investments by 53.7% during 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 during the last quarter. First Horizon Advisors Inc. boosted its position in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the 3rd quarter worth about $45,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of SEI Investments in the 4th quarter valued at about $55,000. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 insiders.

SEI Investments Trading Up 1.1 %

SEI Investments stock opened at $78.27 on Wednesday. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The firm’s fifty day moving average price is $80.62 and its two-hundred day moving average price is $78.28. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, research analysts forecast that SEI Investments will post 4.86 EPS for the current year.

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

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.