Atria Wealth Solutions Inc. Takes $287,000 Position in SEI Investments Company (NASDAQ:SEIC)

Atria Wealth Solutions Inc. purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,697 shares of the asset manager’s stock, valued at approximately $287,000.

Several other institutional investors have also recently made changes to their positions in SEIC. GAMMA Investing LLC raised its position in shares of SEI Investments by 9,563.5% during the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock valued at $36,526,000 after buying an additional 465,646 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in SEI Investments by 108.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 532,336 shares of the asset manager’s stock valued at $43,907,000 after purchasing an additional 277,252 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SEI Investments by 38.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager’s stock valued at $62,358,000 after purchasing an additional 209,850 shares during the last quarter. Northern Trust Corp increased its holdings in SEI Investments by 20.9% in the 4th quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock valued at $88,104,000 after purchasing an additional 184,339 shares during the last quarter. Finally, Prana Capital Management LP increased its holdings in SEI Investments by 51.9% in the 4th quarter. Prana Capital Management LP now owns 299,013 shares of the asset manager’s stock valued at $24,663,000 after purchasing an additional 102,197 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider directly owned 1,300 shares of the company’s stock, valued at $115,375. The trade was a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the sale, the chairman directly owned 7,003,708 shares of the company’s stock, valued at approximately $600,778,072.24. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,126 shares of company stock valued at $12,450,349. Insiders own 14.60% of the company’s stock.

SEI Investments Stock Down 0.7%

NASDAQ:SEIC opened at $88.19 on Friday. The company has a fifty day simple moving average of $88.60 and a two-hundred day simple moving average of $82.39. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. SEI Investments’s payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Piper Sandler dropped their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, July 24th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.00.

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.