New York State Common Retirement Fund Has $3.54 Million Stock Holdings in SEI Investments Company (NASDAQ:SEIC)

New York State Common Retirement Fund trimmed its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 79.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of SEI Investments during the 4th quarter worth $48,009,000. Raymond James Financial Inc. purchased a new stake in shares of SEI Investments in the fourth quarter worth approximately $42,548,000. GAMMA Investing LLC grew 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 valued at $36,526,000 after acquiring an additional 465,646 shares in the last quarter. FMR LLC grew its holdings in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $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 currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Piper Sandler boosted their price target on SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $90.58 on Wednesday. The company has a market cap of $11.28 billion, a P/E ratio of 19.69, a PEG ratio of 1.54 and a beta of 0.92. SEI Investments Company has a 1 year low of $62.38 and a 1 year high of $93.96. The firm has a 50-day simple moving average of $87.07 and a two-hundred day simple moving average of $81.53.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, equities research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.16%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is presently 21.30%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of SEI Investments 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 transaction, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider directly owned 23,895 shares in the company, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 232,126 shares of company stock valued at $19,638,659. 14.30% of the stock is owned by corporate insiders.

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.

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