Illinois Municipal Retirement Fund Has $5.94 Million Stock Holdings in SEI Investments Company $SEIC

Illinois Municipal Retirement Fund raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 49.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,971 shares of the asset manager’s stock after buying an additional 23,018 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of SEI Investments worth $5,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in SEI Investments during the third quarter valued at $28,000. SJS Investment Consulting Inc. increased its position in SEI Investments by 142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock worth $30,000 after purchasing an additional 210 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the 2nd quarter worth about $34,000. Addison Advisors LLC lifted its holdings in shares of SEI Investments by 117.6% during the 2nd quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

Shares of SEIC opened at $78.63 on Friday. The company has a market capitalization of $9.63 billion, a PE ratio of 13.97 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The company’s fifty day moving average price is $84.50 and its 200 day moving average price is $84.59.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $1.19 earnings per share. As a group, analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has authorized a stock buyback plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is 18.47%.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the transaction, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. This represents a 28.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the sale, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SEIC. UBS Group started coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler increased their target price on shares of SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley raised their target price on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.17.

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.