Ingalls & Snyder LLC Trims Stake in SEI Investments (NASDAQ:SEIC)

Ingalls & Snyder LLC cut its stake in SEI Investments (NASDAQ:SEIC) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,205 shares of the asset manager’s stock after selling 5,545 shares during the period. Ingalls & Snyder LLC’s holdings in SEI Investments were worth $2,986,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the last quarter. Longboard Asset Management LP acquired a new stake in SEI Investments in the 4th quarter valued at $267,000. CHURCHILL MANAGEMENT Corp acquired a new stake in SEI Investments during the 4th quarter worth $1,818,000. Lecap Asset Management Ltd. acquired a new stake in SEI Investments during the 4th quarter worth $480,000. Finally, BTS Asset Management Inc. purchased a new position in shares of SEI Investments during the 4th quarter worth $253,000. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Hold” and an average target price of $90.00.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the transaction, the chairman now directly owns 7,371,522 shares of the company’s stock, valued at $620,903,298.06. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 171,194 shares of company stock worth $14,579,872 in the last 90 days. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Down 0.8 %

NASDAQ:SEIC opened at $82.05 on Thursday. The company has a market capitalization of $10.58 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock has a fifty day simple moving average of $83.58 and a 200-day simple moving average of $75.86.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data 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 return on equity of 25.51% and a net margin of 27.35%. As a group, equities analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

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

SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.