Police & Firemen s Retirement System of New Jersey Buys 3,428 Shares of SEI Investments Company $SEIC

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,673 shares of the asset manager’s stock after acquiring an additional 3,428 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in SEI Investments were worth $3,565,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Cadence Bank grew its stake in SEI Investments by 1.2% in the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock worth $819,000 after purchasing an additional 121 shares in the last quarter. Ethic Inc. lifted its holdings in shares of SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares during the period. Fifth Third Bancorp grew its position in shares of SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after buying an additional 141 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of SEI Investments by 3.2% during the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after buying an additional 179 shares during the period. Finally, Clark Capital Management Group Inc. raised its holdings in shares of SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock valued at $1,180,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent research reports. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Piper Sandler lowered their price target on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Raymond James Financial increased their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.40.

SEI Investments Trading Down 0.9%

NASDAQ SEIC opened at $81.57 on Monday. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a 50 day moving average price of $83.87 and a 200 day moving average price of $86.00. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The firm has a market cap of $9.99 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The company had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. During the same period last year, the firm earned $1.19 earnings per share. SEI Investments’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has initiated a stock buyback plan on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,000 shares of company stock valued at $4,811,200 in the last quarter. 14.60% of the stock is currently owned by corporate insiders.

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.