Retirement Systems of Alabama Has $22.94 Million Position in SEI Investments (NASDAQ:SEIC)

Retirement Systems of Alabama reduced its holdings in shares of SEI Investments (NASDAQ:SEIC) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 278,119 shares of the asset manager’s stock after selling 795 shares during the quarter. Retirement Systems of Alabama owned approximately 0.22% of SEI Investments worth $22,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of 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 acquiring an additional 20,020 shares during the period. FMR LLC boosted its position in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after acquiring an additional 10,576 shares during the last quarter. Finally, Raymond James & Associates raised its position in SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after purchasing an additional 19,846 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 52,042 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the sale, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is currently owned by insiders.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $86.24 on Friday. The firm has a market cap of $11.12 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm’s fifty day moving average is $83.48 and its 200-day moving average is $75.32.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. Sell-side analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is 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 dividend of $0.49 per share. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is currently 22.17%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SEIC shares. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Piper Sandler increased their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus price target of $90.00.

SEI Investments Company 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.