Portfolio Design Labs LLC Increases Position in SEI Investments (NASDAQ:SEIC)

Portfolio Design Labs LLC lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 22.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,102 shares of the asset manager’s stock after buying an additional 5,522 shares during the quarter. Portfolio Design Labs LLC’s holdings in SEI Investments were worth $2,483,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments during the 3rd quarter valued at approximately $45,000. International Assets Investment Management LLC lifted its holdings in SEI Investments by 6,818.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock worth $177,000 after purchasing an additional 2,523 shares in the last quarter. Finally, Great Diamond Partners LLC bought a new position in SEI Investments in the 4th quarter worth approximately $203,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 1.9 %

SEIC stock opened at $82.69 on Wednesday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm has a market capitalization of $10.66 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a fifty day simple moving average of $83.60 and a two-hundred day simple moving average of $75.81.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The business 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 positive change 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 announced that its board has authorized a share buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SEIC shares. Morgan Stanley lifted their price objective 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. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. 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. Finally, Piper Sandler boosted their target price 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 research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 19,010 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the sale, the chairman now owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is currently owned by company 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.