New York Life Investment Management LLC Invests $863,000 in SEI Investments (NASDAQ:SEIC)

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

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the period. Aurora Investment Counsel lifted its position in SEI Investments by 0.6% during the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock worth $1,741,000 after buying an additional 144 shares during the period. Venturi Wealth Management LLC grew its holdings in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after buying an additional 144 shares during the period. Principal Securities Inc. lifted its holdings in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP boosted its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

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SEI Investments Stock Down 0.3 %

Shares of NASDAQ SEIC traded down $0.21 on Friday, hitting $75.77. The company had a trading volume of 812,584 shares, compared to its average volume of 623,860. The firm has a market capitalization of $9.62 billion, a P/E ratio of 17.14, a PEG ratio of 1.41 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 business has a 50 day moving average of $82.26 and a two-hundred day moving average of $77.39.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (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%. On average, sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

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

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares of the company's stock, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,414 shares of company stock worth $18,801,608 over the last ninety days. Corporate insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SEIC shares. 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 research report on Thursday, January 30th. Morgan Stanley lifted their target price on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, January 3rd. Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. 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 report on Thursday, January 30th. Finally, 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 report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.