PNC Financial Services Group Inc. Sells 1,053 Shares of SEI Investments (NASDAQ:SEIC)

PNC Financial Services Group Inc. reduced its holdings in shares of SEI Investments (NASDAQ:SEIC) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,508 shares of the asset manager’s stock after selling 1,053 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SEI Investments were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Horizon Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 117 shares in the last quarter. Aurora Investment Counsel lifted its holdings in SEI Investments by 0.6% in the third 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 during the period. Venturi Wealth Management LLC lifted its holdings in SEI Investments by 7.3% in the fourth 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. lifted its holdings in SEI Investments by 13.3% in the fourth 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 lifted its holdings in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the period. 70.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEIC. 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. Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Raymond James raised 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. Morgan Stanley increased their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Finally, Oppenheimer upped their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Up 2.6 %

Shares of SEIC opened at $73.98 on Friday. The business has a 50-day simple moving average of $81.25 and a two-hundred day simple moving average of $77.68. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.41 and a beta of 0.94. 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 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 return on equity of 25.51% and a net margin of 27.35%. On average, equities analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,256 shares of company stock worth $10,729,443. 14.30% of the stock is owned by corporate insiders.

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.