California State Teachers Retirement System Reduces Position in SEI Investments Company (SEIC)
California State Teachers Retirement System lowered its position in SEI Investments Company (NASDAQ:SEIC) by 8.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 222,159 shares of the asset manager’s stock after selling 21,458 shares during the period. California State Teachers Retirement System owned 0.14% of SEI Investments worth $13,565,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in SEI Investments by 3.4% during the second quarter. Russell Investments Group Ltd. now owns 84,725 shares of the asset manager’s stock worth $4,557,000 after purchasing an additional 2,819 shares during the period. Sei Investments Co. bought a new stake in SEI Investments during the second quarter worth approximately $361,000. First Trust Advisors LP boosted its position in SEI Investments by 245.4% during the second quarter. First Trust Advisors LP now owns 48,848 shares of the asset manager’s stock worth $2,627,000 after purchasing an additional 34,707 shares during the period. State of Wisconsin Investment Board boosted its position in SEI Investments by 32.6% during the second quarter. State of Wisconsin Investment Board now owns 116,621 shares of the asset manager’s stock worth $6,272,000 after purchasing an additional 28,640 shares during the period. Finally, SG Americas Securities LLC boosted its position in SEI Investments by 19.9% during the second quarter. SG Americas Securities LLC now owns 42,964 shares of the asset manager’s stock worth $2,311,000 after purchasing an additional 7,133 shares during the period. Hedge funds and other institutional investors own 70.47% of the company’s stock.
SEIC has been the subject of a number of recent analyst reports. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Monday, October 30th. Oppenheimer increased their price objective on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, Mizuho reissued a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research report on Friday, November 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.25.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $72.01 on Friday. SEI Investments Company has a 12-month low of $47.88 and a 12-month high of $72.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. The firm has a market capitalization of $11,273.51, a P/E ratio of 31.31, a PEG ratio of 2.54 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. During the same period in the prior year, the business earned $0.53 earnings per share. SEI Investments’s revenue for the quarter was up 3.8% compared to the same quarter last year. sell-side analysts anticipate that SEI Investments Company will post 2.35 EPS for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th will be given a $0.30 dividend. This represents a dividend yield of 0.85%. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date is Tuesday, December 26th. SEI Investments’s dividend payout ratio is currently 24.35%.
SEI Investments declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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