State of New Jersey Common Pension Fund D Has $2.04 Million Position in SEI Investments (NASDAQ:SEIC)

State of New Jersey Common Pension Fund D grew its holdings in SEI Investments (NASDAQ:SEIC) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,500 shares of the asset manager’s stock after buying an additional 1,574 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SEI Investments were worth $2,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SEIC. IFG Advisory LLC boosted its position in SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after buying an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the last quarter. Creative Planning lifted its position in SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the period. Diversified Trust Co boosted its stake in shares of SEI Investments by 0.4% in the 2nd quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after purchasing an additional 202 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after purchasing an additional 213 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $80.23 on Friday. The business has a 50-day moving average of $72.36 and a 200-day moving average of $68.59. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.54 and a beta of 0.97. SEI Investments has a fifty-two week low of $57.43 and a fifty-two week high of $81.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the prior year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its board has authorized a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SEIC. Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Activity

In other news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,646 shares of company stock valued at $14,115,934 in the last quarter. Company insiders own 14.30% of the company’s stock.

SEI Investments Company Profile

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.