Oppenheimer Asset Management Inc. Has $1.24 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

Oppenheimer Asset Management Inc. raised its stake in SEI Investments (NASDAQ:SEIC) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,982 shares of the asset manager’s stock after buying an additional 768 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SEI Investments were worth $1,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. IFG Advisory LLC boosted its stake in SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after purchasing an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares during the period. Creative Planning grew its holdings in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after buying an additional 182 shares in the last quarter. Diversified Trust Co raised its position in SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Oppenheimer raised their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Performance

Shares of SEIC stock opened at $80.23 on Monday. The firm’s 50-day moving average is $72.36 and its 200-day moving average is $68.60. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.52 and a beta of 0.97. SEI Investments has a 52-week low of $57.43 and a 52-week high of $81.97.

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

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

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,646 shares of company stock valued at $14,115,934. Insiders own 14.30% of the company’s stock.

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.