VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 6,800 SEI Investments Company $SEIC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, Holdings Channel reports. The institutional investor bought 6,800 shares of the asset manager’s stock, valued at approximately $596,000.

Other large investors also recently modified their holdings of the company. Oxbow Advisors LLC bought a new stake in shares of SEI Investments during the 1st quarter valued at about $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in SEI Investments in the fourth quarter worth about $3,217,000. Lazard Asset Management LLC lifted its holdings in SEI Investments by 85.2% in the first quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 17,504 shares during the last quarter. Jupiter Topco LLC acquired a new position in SEI Investments in the second quarter valued at approximately $3,958,000. Finally, King Luther Capital Management Corp boosted its stake in SEI Investments by 10.2% in the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock valued at $11,273,000 after acquiring an additional 12,713 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kathryn McCarthy sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the transaction, the director owned 77,883 shares in the company, valued at $8,063,226.99. This represents a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the transaction, the chief executive officer directly owned 192,815 shares in the company, valued at approximately $21,346,548.65. The trade was a 16.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 179,832 shares of company stock valued at $17,897,438. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Stock Down 1.3%

Shares of SEI Investments stock opened at $105.51 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $112.15. The business’s fifty day moving average price is $104.29 and its two-hundred day moving average price is $91.94. The company has a market capitalization of $12.66 billion, a P/E ratio of 18.61 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. As a group, research analysts forecast that SEI Investments Company will post 6.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Raymond James Financial upped their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.60.

About SEI Investments

SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.

Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.