SEI Investments Company $SEIC Stake Raised by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in SEI Investments Company (NASDAQ:SEIC) by 101.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,700 shares of the asset manager’s stock after purchasing an additional 6,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in SEI Investments were worth $1,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fortitude Family Office LLC raised its holdings in shares of SEI Investments by 95.1% during the 3rd quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager’s stock worth $25,000 after buying an additional 117 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. Latitude Advisors LLC acquired a new stake in SEI Investments in the third quarter valued at about $33,000. Root Financial Partners LLC boosted its stake in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares in the last quarter. Finally, CX Institutional grew its position in SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other news, CEO Ryan Hicke sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $110.71, for a total value of $4,151,625.00. Following the completion of the transaction, the chief executive officer owned 192,815 shares of the company’s stock, valued at $21,346,548.65. This represents a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Lane sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total transaction of $246,672.00. Following the completion of the transaction, the executive vice president owned 39,581 shares of the company’s stock, valued at approximately $4,068,135.18. This trade represents a 5.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 73,777 shares of company stock worth $7,899,863. Insiders own 4.80% of the company’s stock.

SEI Investments Trading Up 3.0%

NASDAQ SEIC opened at $108.62 on Thursday. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 18.89 and a beta of 0.97. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15. The company has a quick ratio of 4.23, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $105.77 and its 200 day moving average is $93.18.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The business had revenue of $662.04 million during the quarter, compared to analysts’ expectations of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, sell-side analysts expect that SEI Investments Company will post 6.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on SEIC. Weiss Ratings raised SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wells Fargo & Company initiated coverage on shares of SEI Investments in a report on Friday, October 2nd. They set an “overweight” rating and a $129.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $129.00 price objective (up from $127.00) on shares of SEI Investments in a research report on Thursday, October 22nd. Finally, Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments has an average rating of “Buy” and an average price target of $125.50.

SEI Investments Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.