New York State Common Retirement Fund Sells 175,700 Shares of SEI Investments Company (NASDAQ:SEIC)

New York State Common Retirement Fund trimmed its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 79.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,554 shares of the asset manager's stock after selling 175,700 shares during the quarter. New York State Common Retirement Fund's holdings in SEI Investments were worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in SEI Investments in the fourth quarter valued at approximately $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments in the fourth quarter worth $42,548,000. GAMMA Investing LLC increased its holdings in shares of SEI Investments by 9,563.5% in the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock worth $36,526,000 after purchasing an additional 465,646 shares during the period. FMR LLC increased its holdings in shares of SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after purchasing an additional 348,112 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of SEI Investments in the fourth quarter worth $23,710,000. 70.59% of the stock is owned by institutional investors.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $14,276,233.60. This represents a 10.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Peterson sold 50,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the transaction, the executive vice president directly owned 13,500 shares of the company's stock, valued at $1,137,645. This represents a 78.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 232,126 shares of company stock valued at $19,638,659 in the last quarter. 14.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEIC. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Raymond James Financial increased their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Price Performance

SEIC traded up $0.20 on Friday, hitting $89.99. The company had a trading volume of 1,205,396 shares, compared to its average volume of 937,867. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $93.96. The stock has a fifty day simple moving average of $87.68 and a 200-day simple moving average of $81.83. The firm has a market capitalization of $11.20 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.53 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.18%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is 21.30%.

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.