Illinois Municipal Retirement Fund Purchases 23,018 Shares of SEI Investments Company $SEIC

Illinois Municipal Retirement Fund raised its position in SEI Investments Company (NASDAQ:SEIC) by 49.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,971 shares of the asset manager’s stock after acquiring an additional 23,018 shares during the period. Illinois Municipal Retirement Fund’s holdings in SEI Investments were worth $5,937,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of SEI Investments by 0.4% in the third quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock valued at $2,656,000 after purchasing an additional 129 shares in the last quarter. Ethic Inc. increased its holdings in SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after buying an additional 133 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of SEI Investments by 0.5% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock valued at $2,533,000 after buying an additional 153 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of SEI Investments by 3.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock worth $519,000 after acquiring an additional 179 shares during the period. Finally, WealthCollab LLC boosted its position in shares of SEI Investments by 33.7% during the 2nd quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research note on Monday, January 5th. Morgan Stanley raised their target price on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. UBS Group assumed coverage on SEI Investments in a research note on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the sale, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.60% of the stock is owned by corporate insiders.

SEI Investments Stock Up 1.7%

Shares of SEIC opened at $78.63 on Friday. The company has a market capitalization of $9.63 billion, a P/E ratio of 13.97 and a beta of 0.95. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The business’s 50 day simple moving average is $84.50 and its 200-day simple moving average is $84.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). The business had revenue of $607.93 million during the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, sell-side analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Announces Dividend

The business also recently declared a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were given a dividend of $0.52 per share. The ex-dividend date was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio is 18.47%.

SEI Investments announced that its board has approved a stock buyback plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.