Railway Pension Investments Ltd Invests $949,000 in SEI Investments (NASDAQ:SEIC)

Railway Pension Investments Ltd acquired a new stake in shares of SEI Investments (NASDAQ:SEIC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,200 shares of the asset manager’s stock, valued at approximately $949,000.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in SEI Investments by 2.8% in the fourth quarter. SG Americas Securities LLC now owns 11,291 shares of the asset manager’s stock valued at $718,000 after acquiring an additional 306 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in SEI Investments by 1.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,761 shares of the asset manager’s stock valued at $1,637,000 after acquiring an additional 412 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of SEI Investments by 13.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,812 shares of the asset manager’s stock worth $433,000 after buying an additional 816 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of SEI Investments by 10.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 69,189 shares of the asset manager’s stock worth $4,423,000 after buying an additional 6,475 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of SEI Investments by 1.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager’s stock worth $83,566,000 after buying an additional 24,621 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

NASDAQ SEIC traded down $1.84 on Friday, reaching $65.41. 427,211 shares of the stock traded hands, compared to its average volume of 726,016. The company has a fifty day moving average price of $66.21 and a 200-day moving average price of $67.05. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. SEI Investments’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. As a group, research analysts anticipate that SEI Investments will post 4.18 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.81%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, June 10th. SEI Investments’s payout ratio is presently 25.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SEIC. Oppenheimer raised their price objective on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Piper Sandler decreased their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.25.

Insider Transactions at SEI Investments

In other news, Director William Doran sold 5,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 70,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $68.62, for a total transaction of $4,803,400.00. Following the transaction, the chairman now directly owns 7,795,471 shares in the company, valued at approximately $534,925,220.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now owns 656,386 shares in the company, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. In the last three months, insiders sold 123,000 shares of company stock valued at $8,406,920. Corporate 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.