Portfolio Design Labs LLC Has $2.48 Million Holdings in SEI Investments (NASDAQ:SEIC)

Portfolio Design Labs LLC boosted its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,102 shares of the asset manager's stock after buying an additional 5,522 shares during the period. Portfolio Design Labs LLC's holdings in SEI Investments were worth $2,483,000 as of its most recent filing with the SEC.

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

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 171,194 shares of company stock worth $14,579,872. Company insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SEIC shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report 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 report on Tuesday, January 7th. Morgan Stanley lifted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, January 3rd. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. 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 research note 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 stock. According to MarketBeat.com, SEI Investments presently has an average rating of "Hold" and a consensus target price of $90.00.

SEI Investments Price Performance

SEIC stock traded down $0.34 during midday trading on Friday, reaching $82.28. 504,234 shares of the stock were exchanged, compared to its average volume of 545,812. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a fifty day moving average price of $83.52 and a 200 day moving average price of $76.07. The stock has a market capitalization of $10.61 billion, a PE ratio of 18.62, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a share buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were paid 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 an increase from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is presently 22.17%.

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.