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

Portfolio Design Labs LLC increased its position in SEI Investments (NASDAQ:SEIC) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,102 shares of the asset manager’s stock after purchasing an additional 5,522 shares during the period. Portfolio Design Labs LLC’s holdings in SEI Investments were worth $2,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Aurora Investment Counsel lifted its holdings in shares of 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 purchasing an additional 144 shares during the last quarter. Creative Planning raised its stake in SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares during the last quarter. Procyon Advisors LLC raised its stake in SEI Investments by 0.5% during the fourth quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after buying an additional 187 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of SEI Investments by 9.4% during the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 306 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

SEI Investments Stock Down 1.9 %

SEIC opened at $82.69 on Wednesday. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.48 and a beta of 0.98. The firm has a 50 day moving average price of $83.60 and a 200-day moving average price of $75.81. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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 expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently announced 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 an increase 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 dividend payout ratio is currently 22.17%.

SEI Investments declared that its board has authorized a share buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the transaction, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 171,194 shares of company stock valued at $14,579,872. Insiders own 14.30% of the company’s stock.

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.