State of Alaska Department of Revenue Decreases Stock Holdings in SEI Investments (NASDAQ:SEIC)

State of Alaska Department of Revenue lowered its position in SEI Investments (NASDAQ:SEIC) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 199,205 shares of the asset manager’s stock after selling 405 shares during the quarter. State of Alaska Department of Revenue’s holdings in SEI Investments were worth $16,429,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SEIC. Geode Capital Management LLC boosted its stake in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares in the last quarter. FMR LLC grew its stake in SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SEI Investments by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock worth $37,791,000 after buying an additional 10,576 shares during the last quarter. Finally, Raymond James & Associates increased its position in SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after buying an additional 19,846 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the transaction, the chairman now owns 7,371,522 shares in the company, valued at $620,903,298.06. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 171,194 shares of company stock worth $14,579,872. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $86.30 on Thursday. The firm’s fifty day moving average is $83.40 and its 200 day moving average is $75.24. The firm has a market cap of $11.12 billion, a PE ratio of 19.52, a P/E/G ratio of 1.48 and a beta of 0.98. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a $0.49 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is presently 22.17%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SEIC. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Oppenheimer raised their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Finally, Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average price target of $90.00.

About SEI Investments

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.