New York State Teachers Retirement System Has $12.85 Million Position in SEI Investments Company (SEIC)
New York State Teachers Retirement System decreased its position in SEI Investments Company (NASDAQ:SEIC) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,364 shares of the asset manager’s stock after selling 7,400 shares during the quarter. New York State Teachers Retirement System owned 0.13% of SEI Investments worth $12,845,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. American Capital Management Inc. raised its holdings in SEI Investments by 0.5% in the third quarter. American Capital Management Inc. now owns 849,780 shares of the asset manager’s stock valued at $51,888,000 after acquiring an additional 4,620 shares in the last quarter. Victory Capital Management Inc. raised its holdings in SEI Investments by 50.2% in the third quarter. Victory Capital Management Inc. now owns 41,117 shares of the asset manager’s stock valued at $2,511,000 after acquiring an additional 13,735 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in SEI Investments in the third quarter valued at approximately $891,000. Penserra Capital Management LLC raised its holdings in SEI Investments by 18.6% in the third quarter. Penserra Capital Management LLC now owns 7,138 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Paragon Capital Management Ltd acquired a new stake in SEI Investments in the third quarter valued at approximately $213,000. 69.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the transaction, the insider now directly owns 10,619,272 shares in the company, valued at $686,429,742.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wayne Withrow sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. Following the transaction, the insider now owns 31,864 shares in the company, valued at $1,910,884.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,000 shares of company stock worth $8,644,200. 16.50% of the stock is owned by corporate insiders.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $65.13 on Wednesday. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. SEI Investments Company has a 1-year low of $43.74 and a 1-year high of $66.00. The firm has a market cap of $10,353.86, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 2.33 and a beta of 1.38.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. sell-side analysts expect that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several analysts recently weighed in on SEIC shares. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 30th. Mizuho reissued a “buy” rating and set a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. raised their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. SEI Investments currently has a consensus rating of “Buy” and a consensus price target of $65.50.
SEI Investments Profile
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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