AlphaQuest LLC Sells 8,986 Shares of SEI Investments (NASDAQ:SEIC)

AlphaQuest LLC reduced its position in SEI Investments (NASDAQ:SEIC) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,430 shares of the asset manager’s stock after selling 8,986 shares during the quarter. AlphaQuest LLC’s holdings in SEI Investments were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the period. Allworth Financial LP lifted its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after buying an additional 158 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments in the third quarter worth $45,000. Rialto Wealth Management LLC purchased a new position in shares of SEI Investments in the fourth quarter worth $55,000. Finally, Principal Securities Inc. lifted its holdings in shares of SEI Investments by 13.3% in the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after buying an additional 155 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction 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 sale, the chairman now owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction 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 directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over 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 company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SEIC. Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley boosted their target price 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. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Piper Sandler boosted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. 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. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $90.00.

SEI Investments Stock Down 0.3 %

SEI Investments stock opened at $75.77 on Monday. 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. The firm’s fifty day moving average is $82.11 and its 200 day moving average is $77.60. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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 net margin of 27.35% and a return on equity of 25.51%. On average, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

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

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.