PNC Financial Services Group Inc. Sells 1,053 Shares of SEI Investments (NASDAQ:SEIC)

PNC Financial Services Group Inc. trimmed its stake in SEI Investments (NASDAQ:SEIC) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,508 shares of the asset manager’s stock after selling 1,053 shares during the period. PNC Financial Services Group Inc.’s holdings in SEI Investments were worth $2,269,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the last quarter. 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. Point72 DIFC Ltd purchased a new position in SEI Investments during the 3rd quarter worth $45,000. 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, Global Retirement Partners LLC increased its holdings in SEI Investments by 13.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager’s stock worth $120,000 after purchasing an additional 169 shares during the period. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SEIC. Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods reiterated 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. 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, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average price target of $90.00.

SEI Investments Price Performance

Shares of SEIC stock opened at $73.98 on Friday. 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 $81.25 and its 200 day moving average price is $77.68. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 16.74, 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.

Insiders Place Their Bets

In other SEI Investments news, 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 transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,256 shares of company stock valued at $10,729,443. 14.30% of the stock is owned by company insiders.

About SEI Investments

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.