SEI Investments (NASDAQ:SEIC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in SEI Investments (NASDAQ:SEIC) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 160,101 shares of the asset manager’s stock after selling 7,494 shares during the quarter. California Public Employees Retirement System owned 0.12% of SEI Investments worth $13,205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEIC. King Luther Capital Management Corp acquired a new position in shares of SEI Investments during the fourth quarter valued at approximately $2,645,000. Boston Trust Walden Corp raised its stake in SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the last quarter. Longboard Asset Management LP acquired a new position in SEI Investments in the 4th quarter valued at $267,000. New York Life Investment Management LLC purchased a new position in SEI Investments in the 4th quarter valued at $863,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in SEI Investments during the 4th quarter worth $1,818,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $69.02 on Friday. The stock has a 50 day moving average of $79.41 and a 200 day moving average of $78.72. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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 return on equity of 25.51% and a net margin of 27.35%. Analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 over the last three months. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several research reports. Morgan Stanley decreased their price target on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating on the stock in a research note on Wednesday. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus price target of $90.20.

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.