Parallel Advisors LLC Acquires 158 Shares of SEI Investments (NASDAQ:SEIC)

Parallel Advisors LLC grew its position in shares of SEI Investments (NASDAQ:SEIC) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,261 shares of the asset manager’s stock after acquiring an additional 158 shares during the period. Parallel Advisors LLC’s holdings in SEI Investments were worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of SEI Investments by 29.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,119 shares of the asset manager’s stock valued at $917,000 after acquiring an additional 2,542 shares during the last quarter. Globeflex Capital L P bought a new position in shares of SEI Investments during the fourth quarter valued at about $148,000. Catalyst Funds Management Pty Ltd raised its stake in shares of SEI Investments by 200.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 6,000 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 4,000 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of SEI Investments by 11.2% during the fourth quarter. Brandes Investment Partners LP now owns 17,610 shares of the asset manager’s stock valued at $1,452,000 after acquiring an additional 1,772 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after acquiring an additional 172 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by company insiders.

SEI Investments Price Performance

SEIC stock opened at $74.95 on Wednesday. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a market cap of $9.51 billion, a P/E ratio of 16.96, a PEG ratio of 1.41 and a beta of 0.94. The firm has a 50-day moving average of $80.99 and a 200 day moving average of $77.93.

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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Oppenheimer upped 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. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods reissued 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, Morgan Stanley increased their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has an average rating of “Hold” and an average target price of $90.00.

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.