Atria Investments Inc Sells 596 Shares of SEI Investments (NASDAQ:SEIC)

Atria Investments Inc cut its holdings in SEI Investments (NASDAQ:SEIC) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,680 shares of the asset manager’s stock after selling 596 shares during the period. Atria Investments Inc’s holdings in SEI Investments were worth $2,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Bank of New York Mellon Corp increased its stake in shares of SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after purchasing an additional 36,810 shares in the last quarter. Raymond James & Associates boosted its holdings in SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after acquiring an additional 19,846 shares in the last quarter. ProShare Advisors LLC increased its position in shares of SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of SEI Investments by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after purchasing an additional 4,656 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Morgan Stanley upped their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler raised their target price 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. Finally, Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Trading Up 1.1 %

SEIC opened at $81.52 on Friday. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.54 and a beta of 0.97. The stock has a fifty day moving average price of $72.06 and a 200-day moving average price of $68.47. SEI Investments has a 12 month low of $57.43 and a 12 month high of $81.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities research analysts forecast that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its board has approved a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in 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 usually an indication that the company’s board believes its shares are 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.