Oppenheimer Asset Management Inc. Buys 1,235 Shares of SEI Investments (NASDAQ:SEIC)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. lifted its stake in SEI Investments (NASDAQ:SEIC – Get Rating) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,020 shares of the asset manager’s stock after purchasing an additional 1,235 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SEI Investments were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. EagleClaw Capital Managment LLC bought a new stake in shares of SEI Investments in the 4th quarter worth approximately $638,000. Robeco Institutional Asset Management B.V. lifted its position in SEI Investments by 14.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 58,785 shares of the asset manager’s stock valued at $3,427,000 after acquiring an additional 7,523 shares in the last quarter. Oak Thistle LLC lifted its position in SEI Investments by 58.7% in the 4th quarter. Oak Thistle LLC now owns 12,048 shares of the asset manager’s stock valued at $702,000 after acquiring an additional 4,457 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in SEI Investments by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,011 shares of the asset manager’s stock valued at $350,000 after acquiring an additional 400 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in SEI Investments in the 4th quarter valued at approximately $1,380,000. 69.45% of the stock is owned by institutional investors.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 65,900 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $55.45, for a total value of $3,654,155.00. Following the completion of the sale, the chairman now directly owns 8,583,787 shares in the company, valued at approximately $475,970,989.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Alfred P. West, Jr. sold 35,936 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $63.39, for a total value of $2,277,983.04. Following the completion of the sale, the chairman now directly owns 8,905,613 shares in the company, valued at approximately $564,526,808.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 65,900 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $55.45, for a total value of $3,654,155.00. Following the completion of the sale, the chairman now owns 8,583,787 shares of the company’s stock, valued at $475,970,989.15. The disclosure for this sale can be found here. Insiders sold 226,523 shares of company stock worth $13,351,686 in the last three months. Corporate insiders own 25.40% of the company’s stock.

SEI Investments Trading Up 2.2 %

Shares of SEIC opened at $59.33 on Friday. The firm has a market cap of $7.91 billion, a PE ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. The firm has a fifty day simple moving average of $57.60 and a two-hundred day simple moving average of $58.82. SEI Investments has a 1-year low of $46.30 and a 1-year high of $64.69.

SEI Investments (NASDAQ:SEIC – Get Rating) last announced its earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). The company had revenue of $469.12 million for the quarter, compared to analysts’ expectations of $468.79 million. SEI Investments had a net margin of 20.88% and a return on equity of 22.29%. SEI Investments’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, research analysts forecast that SEI Investments will post 3.38 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, April 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the asset manager to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler assumed coverage on SEI Investments in a research report on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price objective on the stock. StockNews.com assumed coverage on SEI Investments in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of SEI Investments in a research report on Tuesday, April 4th. Finally, Morgan Stanley boosted their target price on shares of SEI Investments from $54.00 to $58.00 and gave the company an “underweight” rating in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.80.

SEI Investments Profile

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SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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