Avior Wealth Management LLC Lowers Stock Position in SEI Investments (NASDAQ:SEIC)

Avior Wealth Management LLC decreased its holdings in SEI Investments (NASDAQ:SEIC) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,539 shares of the asset manager’s stock after selling 433 shares during the period. Avior Wealth Management LLC’s holdings in SEI Investments were worth $622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 101.3% in 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. grew its position in shares of SEI Investments by 16.3% in the 2nd 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 last quarter. Finally, Quarry LP bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $136,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEI Investments stock opened at $84.88 on Friday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company has a market cap of $10.94 billion, a PE ratio of 20.50, a PEG ratio of 1.44 and a beta of 0.98. The business’s 50-day simple moving average is $82.72 and its two-hundred day simple moving average is $74.25.

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

SEI Investments announced that its board has approved a share buyback plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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 given a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. SEI Investments’s payout ratio is currently 23.67%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Philip Mccabe sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.91, for a total value of $797,055.00. Following the sale, the executive vice president now owns 43,544 shares in the company, valued at approximately $3,305,425.04. This represents a 19.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl Guarino sold 7,564 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.77, for a total transaction of $573,124.28. Following the sale, the director now directly owns 13,867 shares in the company, valued at $1,050,702.59. The trade was a 35.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,258 shares of company stock valued at $17,139,652. 14.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SEIC shares. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.75.

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.