Envestnet Portfolio Solutions Inc. Takes Position in SEI Investments (NASDAQ:SEIC)

Envestnet Portfolio Solutions Inc. acquired a new stake in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,893 shares of the asset manager’s stock, valued at approximately $247,000.

A number of other large investors also recently modified their holdings of SEIC. Invesco Ltd. boosted its position in shares of SEI Investments by 73.1% in the third quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after acquiring an additional 475,226 shares during the period. Acadian Asset Management LLC lifted 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 purchasing an additional 358,282 shares during the last quarter. Envestnet Asset Management Inc. lifted 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 purchasing an additional 155,991 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 109,962 shares during the last quarter. Finally, Barclays PLC lifted its position in SEI Investments by 76.2% during the third quarter. Barclays PLC now owns 247,271 shares of the asset manager’s stock valued at $14,892,000 after purchasing an additional 106,967 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

Shares of SEIC opened at $68.19 on Friday. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.37 and a beta of 1.03. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The firm has a 50 day moving average price of $68.52 and a 200-day moving average price of $65.20.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. As a group, equities research analysts predict that SEI Investments will post 4.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of SEI Investments stock in a transaction on Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at $522,759,000.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Paul Klauder sold 2,000 shares of SEI Investments stock in a transaction on Friday, March 8th. The shares were sold at an average price of $69.80, for a total value of $139,600.00. Following the transaction, the executive vice president now directly owns 20,752 shares of the company’s stock, valued at $1,448,489.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 48,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the transaction, the chairman now directly owns 7,677,471 shares in the company, valued at $522,759,000.39. The disclosure for this sale can be found here. Insiders have sold a total of 289,363 shares of company stock valued at $20,220,667 over the last three months. 14.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SEIC shares. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 target price (up from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Oppenheimer lifted their target price on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler dropped their target price on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.00.

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.