New York State Teachers Retirement System Decreases Stake in SEI Investments (NASDAQ:SEIC)

New York State Teachers Retirement System lowered its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 118,515 shares of the asset manager's stock after selling 7,393 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of SEI Investments worth $9,775,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Geode Capital Management LLC raised its position in SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock worth $174,092,000 after buying an additional 300,704 shares during the last quarter. Portman Square Capital LLP lifted its stake in SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after acquiring an additional 149,840 shares during the period. UMB Bank n.a. acquired a new stake in SEI Investments during the 4th quarter valued at approximately $9,096,000. Finally, Verition Fund Management LLC boosted its holdings in shares of SEI Investments by 2,766.3% in the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager's stock valued at $7,687,000 after acquiring an additional 107,222 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the transaction, the chairman now directly owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 171,194 shares of company stock valued at $14,579,872. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Down 2.4 %

Shares of SEIC stock traded down $1.99 during mid-day trading on Friday, hitting $80.25. 488,466 shares of the stock were exchanged, compared to its average volume of 549,468. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company has a market cap of $10.35 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. The firm has a fifty day moving average of $83.29 and a 200 day moving average of $76.44.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Equities analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments's dividend payout ratio (DPR) is 22.17%.

Analyst Ratings Changes

A number of research firms recently issued reports on SEIC. Piper Sandler boosted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley boosted their price target on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, January 3rd. Finally, Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $90.00.

About SEI Investments

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.