Illinois Municipal Retirement Fund Lowers Stake in SEI Investments Company $SEIC

Illinois Municipal Retirement Fund cut its stake in SEI Investments Company (NASDAQ:SEIC) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,039 shares of the asset manager’s stock after selling 8,177 shares during the period. Illinois Municipal Retirement Fund’s holdings in SEI Investments were worth $3,770,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SEIC. Allworth Financial LP lifted its holdings in SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC increased its position in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the period. Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, Rothschild Investment LLC increased its stake in shares of SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock valued at $46,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James Financial lifted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Piper Sandler upped their target price on SEI Investments from $105.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods increased their price target on SEI Investments from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Morgan Stanley raised their price objective on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and an average target price of $116.20.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $99.25 on Friday. The business has a 50 day simple moving average of $91.04 and a two-hundred day simple moving average of $85.60. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $100.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The stock has a market capitalization of $11.94 billion, a P/E ratio of 16.94 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The company had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, analysts predict that SEI Investments Company will post 5.98 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

Insider Activity

In related news, insider Philip Mccabe sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the sale, the insider owned 54,884 shares of the company’s stock, valued at approximately $5,039,448.88. This represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 111,332 shares of company stock worth $9,908,883. Insiders own 4.80% of the company’s stock.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.