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

New York Life Investment Management LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,465 shares of the asset manager’s stock, valued at approximately $863,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares in the last quarter. Aurora Investment Counsel lifted its position in SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares in the last quarter. Venturi Wealth Management LLC lifted its position 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 acquiring an additional 144 shares in the last quarter. Principal Securities Inc. lifted its position in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 155 shares in the last quarter. Finally, Allworth Financial LP lifted its position in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

SEIC has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler boosted their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Raymond James raised 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. Finally, Oppenheimer boosted their price target 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.00.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the transaction, the chairman now directly owns 7,371,522 shares in the company, valued at $620,903,298.06. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 171,194 shares of company stock worth $14,579,872 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $79.05 on Tuesday. The company’s 50-day moving average price is $82.74 and its two-hundred day moving average price is $77.33. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a market capitalization of $10.04 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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%. On average, analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed 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 was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 22.17%.

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.