Kestra Investment Management LLC Acquires New Shares in SEI Investments (NASDAQ:SEIC)

Kestra Investment Management LLC bought a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,360 shares of the asset manager’s stock, valued at approximately $360,000.

Other hedge funds have also recently modified their holdings of the company. Creative Planning increased its holdings in SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after buying an additional 182 shares in the last quarter. Raymond James & Associates boosted its holdings 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 valued at $37,672,000 after acquiring an additional 19,846 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of SEI Investments by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager’s stock worth $302,000 after acquiring an additional 513 shares during the period. Private Advisor Group LLC raised its holdings in shares of SEI Investments by 9.4% during the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 306 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in SEI Investments by 6,818.9% during the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 2,523 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SEIC shares. Oppenheimer boosted their target price 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. Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Morgan Stanley upped their price target 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. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.00.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $82.84 on Thursday. The stock has a 50-day simple moving average of $83.37 and a two-hundred day simple moving average of $76.40. The firm has a market capitalization of $10.68 billion, a PE ratio of 18.74, a P/E/G ratio of 1.41 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced 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 25.51%. Equities analysts forecast 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 $0.49 dividend. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is 22.17%.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of the 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 completion of the sale, the chairman now owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. This represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 171,194 shares of company stock worth $14,579,872 in the last three months. Company 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.