Louisiana State Employees Retirement System Sells 200 Shares of SEI Investments (NASDAQ:SEIC)

Louisiana State Employees Retirement System trimmed its stake in SEI Investments (NASDAQ:SEIC) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 27,200 shares of the asset manager’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SEI Investments were worth $2,243,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments during the 3rd quarter worth about $45,000. Great Diamond Partners LLC bought a new stake in shares of SEI Investments in the 4th quarter valued at about $203,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in SEI Investments in the 4th quarter valued at about $205,000. Finally, Entropy Technologies LP bought a new position in SEI Investments during the fourth quarter worth about $206,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $82.28 on Friday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.48 and a beta of 0.98. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm’s 50-day simple moving average is $83.52 and its 200 day simple moving average is $76.01.

SEI Investments (NASDAQ:SEIC) last released 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%. Sell-side analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

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

SEI Investments declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

SEIC has been the topic of several research analyst reports. Morgan Stanley upped their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Oppenheimer lifted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.00.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction 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 transaction, the chairman now owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 171,194 shares of company stock worth $14,579,872 over the last ninety days. Corporate insiders own 14.30% of the company’s stock.

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.