Alliance Wealth Advisors LLC UT Buys Shares of 2,618 SEI Investments (NASDAQ:SEIC)

Alliance Wealth Advisors LLC UT purchased a new position in SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,618 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aurora Investment Counsel boosted its position in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 168 shares in the last quarter. Creative Planning lifted its stake in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares during the last quarter. Procyon Advisors LLC boosted its position in SEI Investments by 0.5% during the fourth quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after purchasing an additional 187 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research report on Thursday, January 30th. Morgan Stanley lifted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Oppenheimer increased their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the completion of the sale, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 171,194 shares of company stock worth $14,579,872 over the last quarter. Insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 0.4 %

NASDAQ SEIC opened at $86.14 on Wednesday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The company has a fifty day simple moving average of $83.33 and a two-hundred day simple moving average of $75.17. The stock has a market cap of $11.10 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is 22.17%.

SEI Investments declared that its board has initiated a share repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.