AlphaQuest LLC Trims Stake in SEI Investments (NASDAQ:SEIC)

AlphaQuest LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,430 shares of the asset manager’s stock after selling 8,986 shares during the quarter. AlphaQuest LLC’s holdings in SEI Investments were worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the period. Aurora Investment Counsel increased its holdings in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after purchasing an additional 144 shares during the period. Venturi Wealth Management LLC increased its holdings in SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after purchasing an additional 144 shares during the period. Principal Securities Inc. increased its holdings in SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares during the period. Finally, Allworth Financial LP increased its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,414 shares of company stock worth $18,801,608 in the last ninety days. 14.30% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of SEIC stock opened at $75.77 on Monday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The stock’s fifty day moving average price is $82.11 and its 200 day moving average price is $77.60. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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 year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a dividend of $0.49 per share. This represents a yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is 22.17%.

Analysts Set New Price Targets

Several research firms have commented on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Raymond James upgraded 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. Morgan Stanley lifted their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler lifted 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Company 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.