323,736 Shares in SEI Investments (NASDAQ:SEIC) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 323,736 shares of the asset manager’s stock, valued at approximately $26,702,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after acquiring an additional 117 shares during the period. Aurora Investment Counsel lifted its position in SEI Investments by 0.6% during the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares during the period. Venturi Wealth Management LLC lifted its position in SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after buying an additional 144 shares during the period. Principal Securities Inc. lifted its position in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after buying an additional 155 shares during the period. Finally, Allworth Financial LP lifted its position in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SEIC. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research 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 research report on Thursday, January 30th. Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SEI Investments has an average rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now directly owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is owned by corporate insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $79.62 on Wednesday. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The business has a fifty day moving average price of $82.95 and a 200-day moving average price of $76.94. The company has a market capitalization of $10.26 billion, a PE ratio of 18.01, a PEG ratio of 1.41 and a beta of 0.98.

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

SEI Investments Increases Dividend

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

SEI Investments Company 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.