Donald L. Hagan LLC Sells 866 Shares of SEI Investments (NASDAQ:SEIC)

Donald L. Hagan LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,474 shares of the asset manager’s stock after selling 866 shares during the quarter. Donald L. Hagan LLC’s holdings in SEI Investments were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the period. FMR LLC grew its position in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares during the period. Raymond James & Associates grew its position in shares of SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after purchasing an additional 19,846 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of SEI Investments by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock valued at $35,143,000 after purchasing an additional 60,824 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $86.03 on Friday. The stock’s fifty day moving average price is $83.05 and its two-hundred day moving average price is $74.68. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued 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 net margin of 27.35% and a return on equity of 25.41%. On average, equities analysts anticipate that SEI Investments will post 4.89 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio is 22.17%.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEIC. Piper Sandler boosted 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. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research report on Thursday. Finally, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.00.

Insider Transactions at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the sale, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,194 shares of company stock valued at $15,769,472. 14.30% of the stock is owned by corporate insiders.

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.