Louisiana State Employees Retirement System Has $2.24 Million Stake in SEI Investments (NASDAQ:SEIC)

Louisiana State Employees Retirement System lowered its stake in SEI Investments (NASDAQ:SEIC) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,200 shares of the asset manager’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in SEI Investments were worth $2,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Boston Trust Walden Corp increased its position in 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 worth $107,746,000 after purchasing an additional 20,020 shares during the period. FMR LLC lifted its position in SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after buying an additional 19,846 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SEIC shares. Oppenheimer raised their price objective 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. Morgan Stanley lifted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction that occurred 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 owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 171,194 shares of company stock valued at $14,579,872 in the last 90 days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Price Performance

NASDAQ SEIC opened at $82.28 on Friday. The stock’s 50-day moving average is $83.52 and its 200-day moving average is $76.01. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The firm has a market cap of $10.61 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) 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%. Equities analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has approved a share buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

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

SEI Investments Company 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.