SEI Investments Company (SEIC) Position Boosted by Teachers Advisors LLC
Teachers Advisors LLC raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,025 shares of the asset manager’s stock after buying an additional 15,695 shares during the quarter. Teachers Advisors LLC owned about 0.09% of SEI Investments worth $7,638,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of SEIC. Van ECK Associates Corp grew its position in SEI Investments by 6.5% during the first quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock worth $112,000 after buying an additional 136 shares in the last quarter. Pacer Advisors Inc. grew its position in SEI Investments by 3.2% during the first quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock worth $125,000 after buying an additional 77 shares in the last quarter. Quantbot Technologies LP purchased a new position in SEI Investments during the first quarter worth about $159,000. Mosaic Family Wealth LLC grew its position in SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after buying an additional 200 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new position in SEI Investments during the second quarter worth about $208,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
SEIC has been the subject of several recent analyst reports. Mizuho initiated coverage on SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 target price for the company. Oppenheimer Holdings, Inc. boosted their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $61.50.
In related news, major shareholder Alfred P. West, Jr. sold 50,000 shares of SEI Investments stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $55.94, for a total value of $2,797,000.00. Following the completion of the transaction, the insider now owns 10,686,282 shares in the company, valued at $597,790,615.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Meyer sold 20,000 shares of SEI Investments stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $61.51, for a total value of $1,230,200.00. Following the completion of the transaction, the insider now owns 113,224 shares of the company’s stock, valued at approximately $6,964,408.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock valued at $18,540,250. 16.50% of the stock is currently owned by company insiders.
Shares of SEI Investments Company (SEIC) opened at 62.66 on Friday. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 28.73 and a beta of 1.35. The firm’s 50-day moving average price is $58.36 and its 200 day moving average price is $54.13. SEI Investments Company has a 52 week low of $43.54 and a 52 week high of $62.90.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The firm 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%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities research analysts forecast that SEI Investments Company will post $2.28 EPS for the current year.
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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