Donald L. Hagan LLC Sells 866 Shares of SEI Investments (NASDAQ:SEIC)

Donald L. Hagan LLC trimmed its stake in shares of SEI Investments (NASDAQ:SEIC) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,474 shares of the asset manager’s stock after selling 866 shares during the quarter. Donald L. Hagan LLC’s holdings in SEI Investments were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in SEI Investments by 29.4% in the second quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock valued at $766,000 after acquiring an additional 2,689 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $77,000 after buying an additional 168 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of SEI Investments during the second quarter valued at approximately $2,775,000. JLB & Associates Inc. boosted its position in shares of SEI Investments by 1.0% during the third quarter. JLB & Associates Inc. now owns 288,524 shares of the asset manager’s stock valued at $19,963,000 after buying an additional 2,722 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of SEI Investments by 8.5% during the third quarter. Handelsbanken Fonder AB now owns 26,900 shares of the asset manager’s stock valued at $1,861,000 after buying an additional 2,100 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday. Morgan Stanley lifted their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday. Finally, Piper Sandler boosted their target price 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.00.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the sale, the chairman now owns 7,284,964 shares of the company’s stock, valued at $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,194 shares of company stock worth $15,769,472 over the last ninety days. 14.30% of the stock is owned by corporate insiders.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $86.03 on Friday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.41 and a beta of 0.98. The business’s fifty day moving average is $83.05 and its 200 day moving average is $74.68.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) 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 25.41%. Equities analysts predict that SEI Investments will post 4.89 EPS for the current fiscal year.

SEI Investments Increases Dividend

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

SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.