SEI Investments Company $SEIC Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in SEI Investments Company (NASDAQ:SEIC) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262,381 shares of the asset manager’s stock after purchasing an additional 9,049 shares during the quarter. Retirement Systems of Alabama’s holdings in SEI Investments were worth $26,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its position 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 valued at $25,000 after purchasing an additional 117 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of SEI Investments by 96.8% during the 2nd 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 bought a new stake in SEI Investments in the 3rd quarter worth approximately $33,000. Western Wealth Management LLC bought a new stake in SEI Investments in the 1st quarter worth approximately $43,000. Finally, CX Institutional boosted its stake in SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after buying an additional 164 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SEIC shares. Weiss Ratings upgraded shares of SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, October 26th. Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $129.00 price objective (up from $127.00) on shares of SEI Investments in a report on Thursday, October 22nd. William Blair raised shares of SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $125.50.

SEI Investments Stock Up 1.7%

SEIC opened at $110.37 on Wednesday. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15. The company has a current ratio of 4.31, a quick ratio of 4.23 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $105.46 and its 200-day moving average price is $93.62. The company has a market cap of $13.09 billion, a P/E ratio of 19.19 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The company had revenue of $662.04 million during the quarter, compared to analysts’ expectations of $656.25 million. During the same period in the prior year, the business posted $1.30 EPS. SEI Investments’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities analysts expect that SEI Investments Company will post 6.31 EPS for the current year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Lane sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total value of $246,672.00. Following the completion of the sale, the executive vice president owned 39,581 shares in the company, valued at approximately $4,068,135.18. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred West, Jr. sold 5,483 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total transaction of $565,626.28. Following the completion of the transaction, the chairman owned 6,784,574 shares in the company, valued at $699,896,653.84. This represents a 0.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 73,777 shares of company stock worth $7,899,863. 4.80% of the stock is currently owned by insiders.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services firm founded in 1968 by Alfred P. West Jr. The company provides technology, investment management and operational services to financial institutions and investors. Its offerings include investment processing and administration, outsourced investment management, and technology platforms that support wealth managers, asset managers, financial institutions and institutional investors. SEI also provides investment solutions through its own asset management business.