Ingalls & Snyder LLC Sells 5,545 Shares of SEI Investments (NASDAQ:SEIC)

Ingalls & Snyder LLC reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 13.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Portfolio Design Labs LLC boosted its holdings in SEI Investments by 22.5% in the 4th quarter. Portfolio Design Labs LLC now owns 30,102 shares of the asset manager’s stock worth $2,483,000 after buying an additional 5,522 shares during the period. HTLF Bank purchased a new stake in SEI Investments in the 4th quarter worth approximately $214,000. Entropy Technologies LP purchased a new stake in SEI Investments in the 4th quarter worth approximately $206,000. Lecap Asset Management Ltd. purchased a new stake in SEI Investments in the 4th quarter worth approximately $480,000. Finally, Leo Wealth LLC purchased a new stake in SEI Investments in the 4th quarter worth approximately $229,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Down 0.8 %

Shares of SEI Investments stock opened at $82.05 on Thursday. The firm has a market cap 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 12-month low of $62.38 and a 12-month high of $87.25. The company’s fifty day simple moving average is $83.58 and its two-hundred day simple moving average is $75.86.

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, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. SEI Investments’s payout ratio is 22.17%.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the sale, the chairman now directly owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 171,194 shares of company stock valued at $14,579,872 over the last three months. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SEIC. Piper Sandler increased their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer increased their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley raised their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.00.

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.