Petrus Trust Company LTA Purchases 4,998 Shares of SEI Investments (NASDAQ:SEIC)

Petrus Trust Company LTA raised its position in SEI Investments (NASDAQ:SEIC) by 81.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,105 shares of the asset manager’s stock after buying an additional 4,998 shares during the quarter. Petrus Trust Company LTA’s holdings in SEI Investments were worth $768,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments in the second quarter valued at about $30,000. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of SEI Investments in the third quarter valued at approximately $45,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC opened at $81.70 on Wednesday. SEI Investments has a 52 week low of $59.42 and a 52 week high of $83.15. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98. The stock has a fifty day moving average of $75.66 and a 200-day moving average of $69.73.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, equities analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,064 shares of company stock worth $5,173,529 in the last quarter. 14.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several analyst reports. Morgan Stanley increased their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.50.

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.