VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 6,900 Shares of SEI Investments Company $SEIC

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 101.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,700 shares of the asset manager’s stock after acquiring 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.

A number of other large investors have also added to or reduced their stakes in SEIC. Fortitude Family Office LLC lifted its holdings in 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. Ashton Thomas Securities LLC boosted its position in SEI Investments by 1.9% during the third quarter. Ashton Thomas Securities LLC now owns 6,190 shares of the asset manager’s stock worth $635,000 after purchasing an additional 117 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of SEI Investments by 41.7% in the third quarter. Elevation Wealth Partners LLC now owns 438 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 129 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SEI Investments by 7.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the asset manager’s stock valued at $168,000 after purchasing an additional 133 shares during the last quarter. Finally, Root Financial Partners LLC raised its position in shares of 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 purchasing an additional 141 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 3.0%

Shares of SEIC stock opened at $108.62 on Thursday. The stock has a market cap of $12.88 billion, a P/E ratio of 18.89 and a beta of 0.97. SEI Investments Company has a 1 year low of $75.08 and a 1 year 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 stock has a 50 day simple moving average of $105.77 and a 200 day simple moving average of $93.18.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $662.04 million for the quarter, compared to analyst estimates of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. On average, research analysts predict that SEI Investments Company will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SEIC. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. 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. Piper Sandler reiterated an “overweight” rating and issued a $129.00 price target (up from $127.00) on shares of SEI Investments in a research note on Thursday, October 22nd. Wells Fargo & Company initiated coverage on shares of SEI Investments in a report on Friday, October 2nd. They issued an “overweight” rating and a $129.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of SEI Investments from $125.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, SEI Investments has a consensus rating of “Buy” and a consensus price target of $125.50.

Insider Transactions at SEI Investments

In other news, Chairman Alfred West, Jr. sold 5,483 shares of the stock in a transaction 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 sale, the chairman directly owned 6,784,574 shares of the company’s stock, valued at approximately $699,896,653.84. This represents a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Lane sold 2,400 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 39,581 shares in the company, valued at $4,068,135.18. The trade was a 5.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 73,777 shares of company stock valued at $7,899,863. 4.80% of the stock is owned by corporate insiders.

SEI Investments Company 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.