SEI Investments (NASDAQ:SEIC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in SEI Investments (NASDAQ:SEIC) by 40.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,926 shares of the asset manager’s stock after selling 18,817 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SEI Investments were worth $1,807,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of SEI Investments during the fourth quarter valued at $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of SEI Investments in the first quarter worth approximately $14,172,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of SEI Investments in the fourth quarter worth approximately $6,990,000. Power Corp of Canada acquired a new stake in shares of SEI Investments during the fourth quarter valued at approximately $5,649,000. Finally, Bank of Nova Scotia boosted its stake in SEI Investments by 190.9% in the 4th quarter. Bank of Nova Scotia now owns 114,840 shares of the asset manager’s stock worth $7,298,000 after purchasing an additional 75,358 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler dropped their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.25.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,582 shares of company stock worth $8,942,405. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Up 1.0 %

SEIC stock opened at $68.81 on Tuesday. The company has a 50 day moving average of $66.75 and a two-hundred day moving average of $67.25. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter last year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 4.2 EPS for the current year.

SEI Investments 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.