Schechter Investment Advisors LLC Sells 753 Shares of SEI Investments (NASDAQ:SEIC)

Schechter Investment Advisors LLC trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,334 shares of the asset manager’s stock after selling 753 shares during the period. Schechter Investment Advisors LLC’s holdings in SEI Investments were worth $1,760,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments in the 3rd quarter valued at about $45,000. Principal Securities Inc. boosted its position in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 155 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in SEI Investments by 13.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager’s stock worth $120,000 after purchasing an additional 169 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following 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 this hyperlink. Insiders have sold 171,194 shares of company stock valued at $14,579,872 in the last 90 days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $79.05 on Tuesday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm has a 50-day moving average price of $82.74 and a two-hundred day moving average price of $77.33. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. 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. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is presently 22.17%.

Analyst Ratings Changes

A number of research firms recently issued reports on SEIC. Morgan Stanley boosted their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. 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 note on Monday, December 23rd. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.00.

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.