New York State Common Retirement Fund Sells 10,100 Shares of SEI Investments (NASDAQ:SEIC)

New York State Common Retirement Fund trimmed its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,754 shares of the asset manager's stock after selling 10,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of SEI Investments worth $16,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in SEI Investments by 1.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager's stock valued at $6,185,000 after purchasing an additional 1,391 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of SEI Investments by 64.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager's stock worth $446,000 after acquiring an additional 2,418 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of SEI Investments by 0.9% in the first quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager's stock worth $1,924,000 after acquiring an additional 244 shares during the period. Mediolanum International Funds Ltd bought a new stake in SEI Investments in the first quarter valued at approximately $1,443,000. Finally, Texas Permanent School Fund Corp increased its position in SEI Investments by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 87,252 shares of the asset manager's stock valued at $6,273,000 after purchasing an additional 860 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SEIC has been the subject of several recent analyst reports. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. Oppenheimer boosted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $77.50.

SEI Investments Trading Up 4.2 %

NASDAQ SEIC traded up $3.25 during mid-day trading on Wednesday, hitting $80.03. The company's stock had a trading volume of 785,972 shares, compared to its average volume of 590,074. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.44 and a beta of 0.97. The company's 50 day simple moving average is $70.18 and its 200 day simple moving average is $67.81. SEI Investments has a twelve month low of $55.64 and a twelve month high of $80.54.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. The business's revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its board has initiated a share repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Carl Guarino sold 7,564 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the sale, the director now directly owns 13,867 shares of the company's stock, valued at approximately $1,050,702.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Philip Mccabe sold 10,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now directly owns 43,544 shares of the company's stock, valued at approximately $3,305,425.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carl Guarino sold 7,564 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the transaction, the director now owns 13,867 shares of the company's stock, valued at $1,050,702.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,646 shares of company stock valued at $12,926,334. Corporate insiders own 14.30% of the company's stock.

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.