Public Sector Pension Investment Board Lowers Position in SEI Investments (NASDAQ:SEIC)

Public Sector Pension Investment Board trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,662 shares of the asset manager’s stock after selling 360 shares during the quarter. Public Sector Pension Investment Board’s holdings in SEI Investments were worth $948,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in SEI Investments in the 1st quarter worth about $14,172,000. Jupiter Asset Management Ltd. acquired a new position in SEI Investments in the 2nd quarter worth about $7,787,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SEI Investments during the fourth quarter worth approximately $6,990,000. Finally, Power Corp of Canada acquired a new stake in SEI Investments in the fourth quarter valued at approximately $5,649,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEIC has been the subject of several research analyst reports. Piper Sandler reduced their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.25.

SEI Investments Price Performance

NASDAQ SEIC opened at $69.49 on Thursday. The stock’s 50 day simple moving average is $67.00 and its 200-day simple moving average is $67.26. The company has a market cap of $9.03 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.38 and a beta of 0.99. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share 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 company had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter last year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that SEI Investments will post 4.2 EPS for the current fiscal year.

Insider Transactions at SEI Investments

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

SEI Investments Company 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.