Rialto Wealth Management LLC Makes New Investment in SEI Investments (NASDAQ:SEIC)

Rialto Wealth Management LLC acquired a new stake in SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 663 shares of the asset manager’s stock, valued at approximately $55,000.

Several other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after buying an additional 117 shares during the period. Aurora Investment Counsel boosted its position in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after acquiring an additional 144 shares during the period. Principal Securities Inc. increased its holdings in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP raised its position in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SEIC shares. 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 price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Finally, Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a 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 stock was 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. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,414 shares of company stock valued at $18,801,608 over the last quarter. 14.30% of the stock is currently owned by company insiders.

SEI Investments Trading Down 0.3 %

NASDAQ:SEIC opened at $75.77 on Monday. The company’s 50 day moving average is $82.11 and its two-hundred day moving average is $77.60. The company has a market cap of $9.62 billion, a PE ratio of 17.14, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (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, analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

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

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.