Clark Capital Management Group Inc. Acquires New Stake in SEI Investments (NASDAQ:SEIC)

Clark Capital Management Group Inc. bought a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,012 shares of the asset manager’s stock, valued at approximately $1,238,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. CoreFirst Bank & Trust acquired a new stake in SEI Investments during the fourth quarter valued at approximately $31,000. Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after buying an additional 158 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after acquiring an additional 172 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock worth $6,293,903 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of SEIC opened at $81.49 on Friday. The company has a market capitalization of $10.14 billion, a PE ratio of 18.44, a PEG ratio of 1.41 and a beta of 0.90. The company’s 50 day moving average price is $75.17 and its 200 day moving average price is $79.46. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

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

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SEIC shares. Morgan Stanley reaffirmed an “overweight” rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

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.