Rialto Wealth Management LLC Invests $55,000 in SEI Investments (NASDAQ:SEIC)

Rialto Wealth Management LLC bought a new stake in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 663 shares of the asset manager’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SEIC. Boston Trust Walden Corp grew its holdings in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the period. Longboard Asset Management LP purchased a new position in shares of SEI Investments during the 4th quarter valued at approximately $267,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of SEI Investments during the 4th quarter valued at approximately $1,818,000. Lecap Asset Management Ltd. acquired a new stake in SEI Investments in the 4th quarter valued at $480,000. Finally, Bank of New York Mellon Corp increased its holdings in SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after acquiring an additional 46,425 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the transaction, the chairman now owns 7,284,964 shares in the company, valued at $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,414 shares of company stock valued at $18,801,608. 14.30% of the stock is currently owned by insiders.

SEI Investments Trading Down 0.3 %

SEIC stock opened at $75.77 on Monday. The firm has a 50-day moving average of $82.11 and a two-hundred day moving average of $77.60. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is currently 22.17%.

Wall Street Analyst Weigh In

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

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.