California Public Employees Retirement System trimmed its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,695 shares of the asset manager’s stock after selling 23,244 shares during the period. California Public Employees Retirement System owned 0.15% of SEI Investments worth $12,325,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of SEI Investments by 0.6% during the fourth quarter. State Street Corp now owns 5,690,615 shares of the asset manager’s stock worth $349,030,000 after buying an additional 35,910 shares during the period. Geode Capital Management LLC increased its holdings in shares of SEI Investments by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 1,943,809 shares of the asset manager’s stock valued at $118,418,000 after purchasing an additional 141,772 shares during the period. First Trust Advisors LP raised its stake in shares of SEI Investments by 311.8% during the fourth quarter. First Trust Advisors LP now owns 1,376,254 shares of the asset manager’s stock valued at $83,869,000 after purchasing an additional 1,042,033 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in SEI Investments by 14.4% in the first quarter. Boston Trust Walden Corp now owns 1,139,330 shares of the asset manager’s stock worth $68,599,000 after purchasing an additional 143,693 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in SEI Investments by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,083,692 shares of the asset manager’s stock valued at $66,042,000 after buying an additional 4,928 shares during the period. Institutional investors own 70.44% of the company’s stock.
Insiders Place Their Bets
In other news, insider Dennis Mcgonigle sold 35,000 shares of the business’s stock in a transaction on 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 directly owns 576,663 shares in the company, valued at $31,802,964.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. Keefe, Bruyette & Woods decreased their target price on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. The Goldman Sachs Group dropped their price target on shares of SEI Investments to $58.00 in a research report on Friday, July 22nd. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, William Blair reissued a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.50.
SEI Investments Price Performance
Shares of SEI Investments stock opened at $55.63 on Friday. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.26 and a beta of 0.99. The stock has a 50-day simple moving average of $54.65 and a 200-day simple moving average of $56.83. SEI Investments has a 52-week low of $51.07 and a 52-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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business had revenue of $481.67 million during the quarter, compared to analyst estimates of $472.18 million. During the same quarter last year, the firm earned $0.93 earnings per share. SEI Investments’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 3.71 earnings per share for the current year.
SEI Investments declared that its Board of Directors has approved a stock buyback program on Wednesday, June 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
SEI Investments Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Monday, June 13th were issued a $0.40 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, June 10th. SEI Investments’s payout ratio is 19.18%.
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.
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