Charles Schwab Investment Management Inc. Grows Stake in SEI Investments (NASDAQ:SEIC)

Charles Schwab Investment Management Inc. raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,333 shares of the asset manager’s stock after acquiring an additional 3,967 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.52% of SEI Investments worth $55,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the period. Allworth Financial LP raised its position in 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 purchasing an additional 158 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of SEI Investments during the third quarter worth $45,000. Principal Securities Inc. increased its position in shares of SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in SEI Investments by 13.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager’s stock valued at $120,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEIC opened at $72.08 on Friday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The company has a 50-day moving average of $81.60 and a 200-day moving average of $77.67. The company has a market capitalization of $9.15 billion, a P/E ratio of 16.31, a PEG ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released 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 return on equity of 25.51% and a net margin of 27.35%. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,256 shares of company stock valued at $10,729,443 over the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.00.

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.