California Public Employees Retirement System Has $13.21 Million Holdings in SEI Investments (NASDAQ:SEIC)

California Public Employees Retirement System trimmed its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 160,101 shares of the asset manager's stock after selling 7,494 shares during the period. California Public Employees Retirement System owned about 0.12% of SEI Investments worth $13,205,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SEIC. First Horizon Advisors Inc. boosted its holdings in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC raised its position in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after purchasing an additional 144 shares during the last quarter. Ashton Thomas Securities LLC raised its position in SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock valued at $492,000 after purchasing an additional 145 shares during the last quarter. Principal Securities Inc. raised its position in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock valued at $109,000 after purchasing an additional 155 shares during the last quarter. Finally, Allworth Financial LP raised its position in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

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SEI Investments Stock Down 3.1 %

Shares of SEIC traded down $2.25 during mid-day trading on Thursday, reaching $70.79. 88,263 shares of the stock traded hands, compared to its average volume of 639,475. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.41 and a beta of 0.90. The stock has a fifty day simple moving average of $77.88 and a 200 day simple moving average of $78.67. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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%. On average, equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a share buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Oppenheimer upped their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. StockNews.com cut shares of SEI Investments from a "buy" rating to a "hold" rating in a research note on Monday. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Piper Sandler decreased their price target on shares of SEI Investments from $87.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $86.80.

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.