Public Employees Retirement System of Ohio Trims Stock Position in SEI Investments (NASDAQ:SEIC)

Public Employees Retirement System of Ohio trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 7.0% during the third quarter, Holdings Channel reports. The institutional investor owned 65,163 shares of the asset manager’s stock after selling 4,887 shares during the period. Public Employees Retirement System of Ohio’s holdings in SEI Investments were worth $4,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aurora Investment Counsel boosted its position in shares of SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after acquiring an additional 144 shares during the last quarter. IFG Advisory LLC raised its stake in shares of SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after acquiring an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 shares in the last quarter. Creative Planning boosted its position in SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares during the period. Finally, Signaturefd LLC increased its holdings in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $85.83 on Friday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a one year low of $61.28 and a one year high of $87.25. The business’s 50-day simple moving average is $78.17 and its 200 day simple moving average is $70.66.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the company posted $0.87 EPS. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has approved a stock buyback plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.49 per share. This represents a yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s dividend payout ratio is 22.22%.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the transaction, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,058 shares of company stock valued at $7,245,697 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several analyst reports. Piper Sandler upped their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.50.

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.