SEI Investments (NASDAQ:SEIC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,754 shares of the asset manager’s stock after selling 10,100 shares during the quarter. New York State Common Retirement Fund owned about 0.18% of SEI Investments worth $16,243,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the 2nd quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Bessemer Group Inc. grew its stake in SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the last quarter. Finally, Mather Group LLC. grew its stake in SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 0.00 % 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, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,646 shares of company stock valued at $12,926,334 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SEIC. Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $76.78 on Wednesday. The business has a fifty day moving average of $69.98 and a 200-day moving average of $67.73. SEI Investments has a 1 year low of $55.52 and a 1 year high of $76.95. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.44 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter last year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its Board of Directors has approved 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.