3,235 Shares in SEI Investments (NASDAQ:SEIC) Acquired by Longboard Asset Management LP

Longboard Asset Management LP acquired a new stake in SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,235 shares of the asset manager's stock, valued at approximately $267,000. SEI Investments comprises 0.7% of Longboard Asset Management LP's holdings, making the stock its 9th biggest position.

Several other large investors have also modified their holdings of the company. Aurora Investment Counsel grew its stake in shares of SEI Investments by 0.6% in the 3rd 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. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock worth $77,000 after purchasing an additional 168 shares during the period. Creative Planning lifted its holdings in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after purchasing an additional 182 shares during the period. Procyon Advisors LLC grew its position in SEI Investments by 0.5% in the 4th 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. Finally, First Horizon Advisors Inc. increased its stake in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock valued at $32,000 after buying an additional 232 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer boosted their price target 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Morgan Stanley upped their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, January 3rd. Finally, Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $90.00.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the sale, the chairman now directly owns 7,371,522 shares in the company, valued at $620,903,298.06. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 171,194 shares of company stock worth $14,579,872 over the last ninety days. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Down 1.1 %

NASDAQ SEIC traded down $0.94 during mid-day trading on Friday, hitting $85.30. The stock had a trading volume of 400,738 shares, compared to its average volume of 569,522. The company has a 50 day simple moving average of $83.53 and a 200 day simple moving average of $75.45. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.48 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly 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, equities analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently declared 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 represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio is 22.17%.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.