California Public Employees Retirement System Reduces Stock Position in SEI Investments (NASDAQ:SEIC)

California Public Employees Retirement System cut its holdings in SEI Investments (NASDAQ:SEIC) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 160,101 shares of the asset manager’s stock after selling 7,494 shares during the period. California Public Employees Retirement System’s holdings in SEI Investments were worth $13,205,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Schroder Investment Management Group boosted its holdings in shares of SEI Investments by 72.7% in the 4th quarter. Schroder Investment Management Group now owns 146,235 shares of the asset manager’s stock valued at $12,085,000 after buying an additional 61,580 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in SEI Investments by 11.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 303,078 shares of the asset manager’s stock valued at $24,998,000 after acquiring an additional 30,377 shares in the last quarter. Allstate Corp purchased a new position in shares of SEI Investments during the fourth quarter worth about $216,000. DnB Asset Management AS grew its holdings in shares of SEI Investments by 2.1% during the fourth quarter. DnB Asset Management AS now owns 21,925 shares of the asset manager’s stock worth $1,808,000 after purchasing an additional 450 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth about $1,155,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Price Performance

SEI Investments stock opened at $69.02 on Friday. The business has a 50 day simple moving average of $79.41 and a 200-day simple moving average of $78.72. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock has a market capitalization of $8.76 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. 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 90 days. Company insiders own 14.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler raised their price target on 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 set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley reduced their price target on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a research report on Wednesday. Oppenheimer raised their price objective on shares of 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 raised shares of 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average 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.