Illinois Municipal Retirement Fund Lowers Stock Holdings in SEI Investments Company $SEIC

Illinois Municipal Retirement Fund cut its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 14.5% during the first quarter, Holdings Channel reports. The firm owned 48,039 shares of the asset manager’s stock after selling 8,177 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SEI Investments were worth $3,770,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of SEI Investments in the fourth quarter valued at approximately $53,548,000. Clark Capital Management Group Inc. grew its stake in shares of SEI Investments by 2,333.2% in the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock worth $52,973,000 after acquiring an additional 619,315 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of SEI Investments in the fourth quarter worth $43,186,000. Qube Research & Technologies Ltd increased its position in shares of SEI Investments by 82.5% during the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after acquiring an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec raised its stake in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after acquiring an additional 317,703 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SEIC shares. Piper Sandler upped their price target on SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial increased their target price on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Morgan Stanley boosted their target price on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares of the company’s stock, valued at approximately $83,958.36. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the sale, the insider owned 39,829 shares of the company’s stock, valued at $3,589,389.48. This trade represents a 38.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 111,332 shares of company stock valued at $9,908,883 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Stock Down 1.0%

SEI Investments stock opened at $99.25 on Friday. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $100.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The company has a market capitalization of $11.94 billion, a P/E ratio of 16.94 and a beta of 0.97. The stock has a 50-day simple moving average of $91.04 and a 200-day simple moving average of $85.60.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. During the same quarter last year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that SEI Investments Company will post 5.98 earnings per share for the current year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio is currently 17.75%.

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.