SEI Investments (NASDAQ:SEIC) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,539 shares of the asset manager’s stock after selling 433 shares during the period. Avior Wealth Management LLC’s holdings in SEI Investments were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in SEI Investments by 5.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,326 shares of the asset manager’s stock valued at $539,000 after buying an additional 395 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of SEI Investments by 4.6% in the second quarter. Bank of Montreal Can now owns 125,035 shares of the asset manager’s stock worth $8,239,000 after acquiring an additional 5,445 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of SEI Investments by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after acquiring an additional 8,094 shares during the last quarter. AQR Capital Management LLC increased its position in shares of SEI Investments by 12.6% during the second quarter. AQR Capital Management LLC now owns 367,089 shares of the asset manager’s stock worth $23,655,000 after purchasing an additional 41,108 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in SEI Investments in the 2nd quarter valued at $614,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other news, EVP Philip Mccabe sold 10,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the transaction, the executive vice president now directly owns 43,544 shares in the company, valued at $3,305,425.04. This trade represents a 19.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,258 shares of company stock worth $17,139,652. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

NASDAQ:SEIC opened at $84.88 on Friday. The company’s 50-day moving average is $82.72 and its two-hundred day moving average is $74.25. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.44 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. As a group, equities analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a stock buyback program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is currently 23.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.75.

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.