Allworth Financial LP Raises Stake in SEI Investments (NASDAQ:SEIC)

Allworth Financial LP raised its holdings in SEI Investments (NASDAQ:SEIC) by 53.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 452 shares of the asset manager’s stock after purchasing an additional 158 shares during the period. Allworth Financial LP’s holdings in SEI Investments were worth $38,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SEIC. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the period. Point72 DIFC Ltd acquired a new stake in SEI Investments in the 3rd quarter valued at approximately $45,000. Principal Securities Inc. grew its holdings in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after buying an additional 155 shares during the last quarter. Great Diamond Partners LLC acquired a new stake in shares of SEI Investments during the 4th quarter worth approximately $203,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of SEI Investments during the 4th quarter worth approximately $205,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the transaction, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 171,194 shares of company stock valued at $14,579,872 over the last three months. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Down 0.5 %

SEIC stock opened at $79.62 on Wednesday. The company has a market cap of $10.26 billion, a P/E ratio of 18.01, a PEG ratio of 1.41 and a beta of 0.98. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The business has a fifty day moving average of $82.95 and a 200-day moving average of $76.94.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given 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 yield of 1.1%. SEI Investments’s dividend payout ratio is 22.17%.

Analysts Set New Price Targets

SEIC has been the subject of several analyst reports. Morgan Stanley raised their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Oppenheimer lifted 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.00.

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.