Oppenheimer Asset Management Inc. Trims Stake in SEI Investments (NASDAQ:SEIC)

Oppenheimer Asset Management Inc. cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,844 shares of the asset manager’s stock after selling 138 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SEI Investments were worth $1,472,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SEIC. Creative Planning lifted its position in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares in the last quarter. Private Advisor Group LLC raised its stake in SEI Investments by 9.4% during the 3rd quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock worth $246,000 after acquiring an additional 306 shares during the period. International Assets Investment Management LLC lifted its holdings in SEI Investments by 6,818.9% during the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 2,523 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of SEI Investments by 21.3% in the third quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager’s stock worth $459,000 after purchasing an additional 1,165 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of SEI Investments by 72.3% in the third quarter. Van ECK Associates Corp now owns 94,605 shares of the asset manager’s stock worth $6,689,000 after purchasing an additional 39,711 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SEIC. Piper Sandler lifted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer boosted 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. Morgan Stanley increased 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Trading Down 1.2 %

NASDAQ:SEIC opened at $79.05 on Tuesday. The business’s 50-day moving average is $82.74 and its 200 day moving average is $77.33. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company has a market capitalization of $10.04 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data 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%. On average, research analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is 22.17%.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 171,194 shares of company stock valued at $14,579,872 in the last three months. Corporate 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.