Ingalls & Snyder LLC Has $2.99 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Ingalls & Snyder LLC reduced its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,205 shares of the asset manager's stock after selling 5,545 shares during the quarter. Ingalls & Snyder LLC's holdings in SEI Investments were worth $2,986,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Trust Walden Corp grew its holdings in SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock worth $107,746,000 after acquiring an additional 20,020 shares during the period. Longboard Asset Management LP bought a new position in shares of SEI Investments during the 4th quarter valued at about $267,000. CHURCHILL MANAGEMENT Corp bought a new stake in SEI Investments during the fourth quarter worth approximately $1,818,000. Lecap Asset Management Ltd. acquired a new position in SEI Investments in the fourth quarter worth approximately $480,000. Finally, BTS Asset Management Inc. bought a new position in shares of SEI Investments in the fourth quarter valued at $253,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC stock traded down $0.34 on Friday, hitting $82.28. The company's stock had a trading volume of 504,234 shares, compared to its average volume of 545,812. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.48 and a beta of 0.98. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The firm's fifty day moving average price is $83.52 and its 200-day moving average price is $76.07.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released 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 return on equity of 25.51% and a net margin of 27.35%. Analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio is currently 22.17%.

Insiders Place Their Bets

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

Analyst Ratings Changes

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $90.00.

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.