Corient Private Wealth LLC Reduces Holdings in SEI Investments (NASDAQ:SEIC)

Corient Private Wealth LLC reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 26.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,603 shares of the asset manager’s stock after selling 4,446 shares during the quarter. Corient Private Wealth LLC’s holdings in SEI Investments were worth $1,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP lifted its holdings in shares of SEI Investments by 53.7% in the 4th 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 last quarter. First Horizon Advisors Inc. increased its position in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares during the period. Point72 DIFC Ltd purchased a new stake in SEI Investments in the third quarter valued at approximately $45,000. Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after acquiring an additional 172 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the transaction, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock worth $6,293,903 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Trading Up 0.1 %

Shares of SEIC opened at $78.32 on Thursday. The firm has a market capitalization of $9.94 billion, a PE ratio of 17.72, a P/E/G ratio of 1.41 and a beta of 0.94. The stock’s 50 day moving average is $80.55 and its two-hundred day moving average is $78.28. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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%. On average, sell-side analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.