Pathstone Holdings LLC Sells 840 Shares of SEI Investments (NASDAQ:SEIC)

Pathstone Holdings LLC lowered its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,148 shares of the asset manager’s stock after selling 840 shares during the quarter. Pathstone Holdings LLC’s holdings in SEI Investments were worth $1,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IFG Advisory LLC increased its position in SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after acquiring an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in 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 valued at $77,000 after buying an additional 168 shares during the period. Creative Planning increased its holdings in SEI Investments by 2.3% in 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 during the period. Diversified Trust Co increased its holdings in SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares during the period. Finally, Signaturefd LLC increased its holdings in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after buying an additional 213 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SEIC. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Oppenheimer boosted their price target 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. Finally, Morgan Stanley boosted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $82.44 on Thursday. SEI Investments has a 52 week low of $57.43 and a 52 week high of $83.02. The company’s fifty day moving average is $74.30 and its 200-day moving average is $69.23. The company has a market capitalization of $10.63 billion, a PE ratio of 19.81, a P/E/G ratio of 1.54 and a beta of 0.97.

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

SEI Investments declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,064 shares of company stock worth $5,173,529. Corporate insiders own 14.30% of the company’s stock.

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.