New York State Common Retirement Fund boosted its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 255,522 shares of the asset manager’s stock after purchasing an additional 506 shares during the period. New York State Common Retirement Fund owned about 0.19% of SEI Investments worth $15,385,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue lifted its position in shares of SEI Investments by 8.3% during the 1st quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock valued at $3,304,000 after buying an additional 4,206 shares in the last quarter. American Century Companies Inc. boosted its position in shares of SEI Investments by 15.1% in the fourth quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager’s stock worth $1,131,000 after purchasing an additional 2,428 shares during the period. Teacher Retirement System of Texas increased its stake in shares of SEI Investments by 1.0% in the fourth quarter. Teacher Retirement System of Texas now owns 112,997 shares of the asset manager’s stock worth $6,886,000 after purchasing an additional 1,126 shares in the last quarter. Commerce Bank increased its stake in shares of SEI Investments by 2.2% in the fourth quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock worth $694,000 after purchasing an additional 240 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of SEI Investments by 1.5% in the first quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager’s stock worth $8,731,000 after purchasing an additional 2,100 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Stock Performance
SEIC opened at $55.63 on Friday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.26 and a beta of 0.99. The company has a fifty day moving average of $54.65 and a 200 day moving average of $56.83. SEI Investments has a fifty-two week low of $51.07 and a fifty-two week high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last posted its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. On average, equities research analysts forecast that SEI Investments will post 3.71 earnings per share for the current year.
SEI Investments Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were paid a $0.40 dividend. This is a boost from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, June 10th. SEI Investments’s dividend payout ratio (DPR) is presently 19.18%.
SEI Investments declared that its board has approved a share repurchase plan on Wednesday, June 1st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SEIC. William Blair reissued a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. StockNews.com cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Piper Sandler reduced their price objective on shares of SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group reduced their price objective on shares of SEI Investments to $58.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley reduced their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.50.
Insiders Place Their Bets
In other news, insider Dennis Mcgonigle sold 35,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the sale, the insider now owns 576,663 shares in the company, valued at approximately $31,802,964.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.40% 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.
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