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

Avior Wealth Management LLC lowered its position in SEI Investments (NASDAQ:SEIC) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,972 shares of the asset manager’s stock after selling 560 shares during the quarter. Avior Wealth Management LLC’s holdings in SEI Investments were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SEIC. Dimensional Fund Advisors LP increased its holdings in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after acquiring an additional 222,631 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments in the second quarter valued at about $7,787,000. West Coast Financial LLC grew its holdings in shares of SEI Investments by 120.8% during the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after buying an additional 63,537 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of SEI Investments by 1,444.2% during the second quarter. CIBC Asset Management Inc now owns 49,802 shares of the asset manager’s stock worth $3,222,000 after buying an additional 46,577 shares during the last quarter. Finally, Andra AP fonden raised its stake in SEI Investments by 45.6% during the 2nd quarter. Andra AP fonden now owns 135,800 shares of the asset manager’s stock valued at $8,785,000 after acquiring an additional 42,500 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on SEIC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $80.21 on Friday. SEI Investments has a 1 year low of $57.43 and a 1 year high of $81.97. The stock has a fifty day moving average price of $73.44 and a two-hundred day moving average price of $68.94. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.50 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. 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 61,000 shares of SEI Investments stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,227 shares of company stock valued at $12,265,700. Corporate insiders own 14.30% of the company’s stock.

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.