Legacy Financial Advisors Inc. Purchases 352 Shares of SEI Investments (NASDAQ:SEIC)

Legacy Financial Advisors Inc. raised its position in SEI Investments (NASDAQ:SEIC) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,542 shares of the asset manager’s stock after buying an additional 352 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in SEI Investments were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD bought a new stake in SEI Investments in the 2nd quarter valued at about $30,000. TFO Wealth Partners LLC raised its position in shares of SEI Investments by 6,277.8% in the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 565 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after buying an additional 275 shares in the last quarter. Bessemer Group Inc. boosted its holdings in SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the period. Finally, Mather Group LLC. grew its stake in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling

In other SEI Investments news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the sale, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other SEI Investments news, Director William Doran sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, the director now owns 656,386 shares in the company, valued at $44,004,117.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,582 shares of company stock worth $9,277,605. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

SEIC opened at $68.10 on Friday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The firm has a market capitalization of $8.95 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a fifty day moving average price of $66.74 and a 200-day moving average price of $67.26.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same period in the prior year, the company earned $0.89 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that SEI Investments will post 4.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler cut their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.25.

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.