Donald L. Hagan LLC Has $994,000 Stock Holdings in SEI Investments (NASDAQ:SEIC)

Donald L. Hagan LLC lowered its holdings in SEI Investments (NASDAQ:SEIC) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,371 shares of the asset manager’s stock after selling 1,888 shares during the period. Donald L. Hagan LLC’s holdings in SEI Investments were worth $994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. abrdn plc raised its stake in SEI Investments by 91.0% in the fourth quarter. abrdn plc now owns 36,923 shares of the asset manager’s stock valued at $2,346,000 after purchasing an additional 17,590 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of SEI Investments during the 2nd quarter worth approximately $1,434,000. Mediolanum International Funds Ltd acquired a new stake in shares of SEI Investments during the 1st quarter worth approximately $1,443,000. Norges Bank bought a new position in SEI Investments in the fourth quarter valued at approximately $32,161,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SEI Investments by 20.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after purchasing an additional 10,670 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insiders Place Their Bets

In related news, Director William Doran sold 5,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent analyst reports. Piper Sandler decreased their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.25.

SEI Investments Stock Up 0.6 %

Shares of NASDAQ SEIC traded up $0.39 during midday trading on Friday, reaching $67.14. 421,039 shares of the company were exchanged, compared to its average volume of 671,049. The stock’s 50-day moving average price is $65.84 and its 200-day moving average price is $67.19. The stock has a market cap of $8.72 billion, a P/E ratio of 18.34, a PEG ratio of 1.31 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter in the previous year, the company posted $0.89 EPS. SEI Investments’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that SEI Investments will post 4.18 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 10th. This is an increase from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 2.74%. SEI Investments’s dividend payout ratio (DPR) is currently 25.14%.

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.