Carbahal Olsen Financial Services Group LLC Makes New Investment in SEI Investments (NASDAQ:SEIC)

Carbahal Olsen Financial Services Group LLC purchased a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the asset manager’s stock, valued at approximately $330,000. SEI Investments makes up about 0.3% of Carbahal Olsen Financial Services Group LLC’s portfolio, making the stock its 21st largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of SEI Investments in the fourth quarter worth approximately $31,000. Allworth Financial LP lifted its position 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 acquiring an additional 158 shares in the last quarter. First Horizon Advisors Inc. raised its stake in 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 purchasing an additional 117 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments during the 4th quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC grew its position in SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after acquiring an additional 172 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm’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 transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % 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 in the last quarter. Corporate insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the subject of a number of recent analyst reports. StockNews.com cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Morgan Stanley upgraded shares of SEI Investments from an “underweight” rating to an “overweight” rating and lowered their price objective for the stock from $81.00 to $77.00 in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

SEI Investments Price Performance

SEIC opened at $71.66 on Friday. The stock has a market cap of $9.10 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.41 and a beta of 0.90. The firm has a fifty day moving average price of $76.04 and a 200 day moving average price of $78.76. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Equities analysts expect 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 program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.