SEI Investments (NASDAQ:SEIC) Position Increased by Donald L. Hagan LLC

Donald L. Hagan LLC raised its holdings in shares of SEI Investments (NASDAQ:SEIC) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,735 shares of the asset manager’s stock after buying an additional 261 shares during the period. Donald L. Hagan LLC’s holdings in SEI Investments were worth $1,144,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SEIC. Entropy Technologies LP acquired a new position in SEI Investments in the 4th quarter worth approximately $206,000. Principal Securities Inc. boosted its stake in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares during the period. Allworth Financial LP boosted its stake in 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 purchasing an additional 158 shares during the period. J.W. Cole Advisors Inc. acquired a new position in SEI Investments in the 4th quarter worth approximately $224,000. Finally, Venturi Wealth Management LLC boosted its stake in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after purchasing an additional 144 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the transaction, the chairman now directly owns 6,937,582 shares in the company, valued at $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider now owns 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,126 shares of company stock valued at $19,638,659 over the last quarter. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $84.18 on Friday. The firm’s 50-day moving average is $79.65 and its 200-day moving average is $80.51. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.41 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. Equities analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has approved a stock buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.33%. This is a boost from SEI Investments’s previous quarterly dividend of $0.46. SEI Investments’s payout ratio is presently 21.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Finally, Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and an average price target of $88.00.

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.