Retirement Systems of Alabama Sells 795 Shares of SEI Investments (NASDAQ:SEIC)

Retirement Systems of Alabama lowered its position in SEI Investments (NASDAQ:SEIC) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,119 shares of the asset manager’s stock after selling 795 shares during the period. Retirement Systems of Alabama’s holdings in SEI Investments were worth $22,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Longboard Asset Management LP acquired a new position in shares of SEI Investments during the fourth quarter valued at about $267,000. abrdn plc boosted its stake in SEI Investments by 11.9% during the 4th quarter. abrdn plc now owns 3,382 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 359 shares during the last quarter. Alliance Wealth Advisors LLC UT bought a new stake in SEI Investments during the 4th quarter worth approximately $216,000. Boston Trust Walden Corp increased its holdings in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares in the last quarter. Finally, Avantra Family Wealth Inc. purchased a new stake in shares of SEI Investments in the fourth quarter worth approximately $235,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the sale, the chairman now owns 7,377,506 shares of the company’s stock, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 171,194 shares of company stock worth $14,579,872 over the last ninety days. 14.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SEIC shares. Oppenheimer upped their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Raymond James upgraded 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 research note on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $86.24 on Friday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company’s 50-day moving average is $83.48 and its 200 day moving average is $75.32. The company has a market capitalization of $11.12 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its 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 net margin of 27.35% and a return on equity of 25.51%. As a group, research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is currently 22.17%.

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.