SEI Investments Company (SEIC) Shares Bought by Arizona State Retirement System
Arizona State Retirement System raised its stake in SEI Investments Company (NASDAQ:SEIC) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 56,200 shares of the asset manager’s stock after buying an additional 600 shares during the period. Arizona State Retirement System’s holdings in SEI Investments were worth $3,022,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC increased its position in shares of SEI Investments by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 122,376 shares of the asset manager’s stock valued at $6,040,000 after buying an additional 6,204 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of SEI Investments by 50.7% in the fourth quarter. Macquarie Group Ltd. now owns 11,000 shares of the asset manager’s stock valued at $543,000 after buying an additional 3,700 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of SEI Investments by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 42,651 shares of the asset manager’s stock valued at $2,151,000 after buying an additional 500 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of SEI Investments during the first quarter valued at approximately $204,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of SEI Investments during the first quarter valued at approximately $474,000. Institutional investors own 68.58% of the company’s stock.
Shares of SEI Investments Company (SEIC) opened at 55.70 on Friday. The company’s 50-day moving average price is $55.61 and its 200 day moving average price is $52.17. The firm has a market capitalization of $8.81 billion, a PE ratio of 25.54 and a beta of 1.33. SEI Investments Company has a 12-month low of $42.90 and a 12-month high of $57.50.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $372.30 million during the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. SEI Investments’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, equities analysts forecast that SEI Investments Company will post $2.28 earnings per share for the current year.
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Several research analysts have recently commented on SEIC shares. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 20th. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $54.00 target price on shares of SEI Investments in a research note on Friday, June 23rd. Finally, Mizuho started coverage on SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 target price for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SEI Investments presently has a consensus rating of “Buy” and a consensus target price of $59.75.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the completion of the transaction, the insider now directly owns 10,836,282 shares of the company’s stock, valued at $611,166,304.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 84,116 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $51.92, for a total value of $4,367,302.72. Following the transaction, the insider now directly owns 10,952,166 shares of the company’s stock, valued at $568,636,458.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,500 shares of company stock valued at $20,982,527. 17.10% of the stock is currently owned by corporate insiders.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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