California State Teachers Retirement System Has $13.10 Million Holdings in SEI Investments Company (SEIC)
California State Teachers Retirement System decreased its position in SEI Investments Company (NASDAQ:SEIC) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,617 shares of the asset manager’s stock after selling 10,074 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of SEI Investments worth $13,102,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SEIC. Pacer Advisors Inc. boosted its stake in shares of SEI Investments by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 203 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of SEI Investments by 9.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after purchasing an additional 253 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of SEI Investments by 6.7% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 200 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $208,000. Finally, Gyroscope Capital Management Group LLC bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $227,000. Hedge funds and other institutional investors own 68.65% of the company’s stock.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the transaction, the insider now directly owns 10,686,282 shares in the company, valued at approximately $597,790,615.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Meyer sold 20,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the transaction, the insider now owns 113,224 shares in the company, valued at $6,964,408.24. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock worth $18,540,250 in the last ninety days. 16.50% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on SEIC. Zacks Investment Research raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Oppenheimer Holdings, Inc. lifted their target price on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Mizuho began coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $61.50.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at 63.19 on Friday. SEI Investments Company has a 52 week low of $43.63 and a 52 week high of $64.08. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 28.97 and a beta of 1.35. The stock’s 50 day moving average is $60.25 and its 200-day moving average is $55.04.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The company had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. On average, equities analysts anticipate that SEI Investments Company will post $2.28 earnings per share for the current year.
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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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