Haven Private LLC Buys New Shares in SEI Investments (NASDAQ:SEIC)

Haven Private LLC bought a new stake in SEI Investments (NASDAQ:SEIC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 6,161 shares of the asset manager’s stock, valued at approximately $508,000.

Several other hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after buying an additional 117 shares during the period. Aurora Investment Counsel lifted its stake in shares of SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of SEI Investments by 7.3% in the fourth 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 stake in shares of SEI Investments by 13.3% in the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after buying an additional 155 shares during the period. Finally, Allworth Financial LP lifted its stake 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 valued at $38,000 after buying an additional 158 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Down 1.2 %

NASDAQ:SEIC opened at $75.98 on Friday. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The firm has a 50 day moving average of $82.43 and a 200-day moving average of $77.40. The stock has a market capitalization of $9.65 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results 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 25.51%. As a group, analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

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

Wall Street Analysts Forecast Growth

SEIC has been the subject of several research reports. Raymond James upgraded shares of 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer raised their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler raised their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Activity

In related 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 value 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 $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,042 shares of company stock worth $18,696,952. Insiders own 14.30% of the company’s stock.

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.