New York Life Investment Management LLC Purchases New Position in SEI Investments (NASDAQ:SEIC)

New York Life Investment Management LLC purchased a new stake in SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,465 shares of the asset manager’s stock, valued at approximately $863,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Trust Walden Corp boosted its holdings in 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 period. Longboard Asset Management LP bought a new stake in SEI Investments in the 4th quarter valued at about $267,000. CHURCHILL MANAGEMENT Corp bought a new stake in SEI Investments in the 4th quarter valued at about $1,818,000. Lecap Asset Management Ltd. bought a new stake in SEI Investments in the 4th quarter valued at about $480,000. Finally, 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 valued at $2,483,000 after purchasing an additional 5,522 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $79.05 on Tuesday. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.41 and a beta of 0.98. The firm has a 50 day simple moving average of $82.74 and a 200 day simple moving average of $77.33. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

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 the consensus estimate 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 EPS for the current year.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid 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 presently 22.17%.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares of the company’s stock, valued at $620,903,298.06. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 171,194 shares of company stock valued at $14,579,872 in the last quarter. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer boosted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Piper Sandler upped their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, 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 report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.