Retirement Systems of Alabama Grows Position in SEI Investments (NASDAQ:SEIC)

Retirement Systems of Alabama increased its position in SEI Investments (NASDAQ:SEIC) by 4.4% in the fourth quarter, HoldingsChannel reports. The firm owned 284,248 shares of the asset manager’s stock after purchasing an additional 11,948 shares during the quarter. Retirement Systems of Alabama’s holdings in SEI Investments were worth $18,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Trust Walden Corp increased its holdings in shares of SEI Investments by 1.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager’s stock worth $83,566,000 after purchasing an additional 24,621 shares in the last quarter. Tandem Investment Advisors Inc. lifted its position in shares of SEI Investments by 5.3% in the third quarter. Tandem Investment Advisors Inc. now owns 1,218,267 shares of the asset manager’s stock valued at $73,376,000 after acquiring an additional 61,228 shares in the last quarter. Northern Trust Corp lifted its position in shares of SEI Investments by 6.6% in the third quarter. Northern Trust Corp now owns 1,143,777 shares of the asset manager’s stock valued at $68,890,000 after acquiring an additional 70,937 shares in the last quarter. Invesco Ltd. lifted its position in shares of SEI Investments by 73.1% in the third quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after acquiring an additional 475,226 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of SEI Investments by 2.7% in the third quarter. Brown Advisory Inc. now owns 681,637 shares of the asset manager’s stock valued at $41,055,000 after acquiring an additional 17,740 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Oppenheimer lifted their target price on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Piper Sandler reduced their price objective on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price objective (up from $72.00) on shares of SEI Investments in a research note on Thursday, April 25th. Finally, StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $65.95 on Wednesday. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.35 and a beta of 1.02. The stock has a 50 day moving average price of $68.60 and a 200 day moving average price of $63.56. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. SEI Investments’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. Analysts forecast that SEI Investments will post 4.11 earnings per share for the current year.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now owns 7,884,834 shares in the company, valued at $557,852,005.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the sale, the executive vice president now owns 55,399 shares in the company, valued at $3,665,197.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now directly owns 7,884,834 shares in the company, valued at $557,852,005.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,333 shares of company stock worth $14,481,612. Company insiders own 15.50% 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.