SEI Investments Company $SEIC Holdings Boosted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its SEI Investments position by 8,074.1% in the second quarter, acquiring 10.16 million additional shares and ending with an 8.57% stake valued at approximately $902.4 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments exceeded quarterly expectations, reporting $1.66 EPS versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $122.60.
• Company insiders sold 179,832 shares worth approximately $17.9 million over the past quarter, while SEIC shares were trading near $106.93, below the $112.15 12-month high.

California State Teachers Retirement System raised its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 8,074.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,288,383 shares of the asset manager's stock after purchasing an additional 10,162,517 shares during the quarter. California State Teachers Retirement System owned 8.57% of SEI Investments worth $902,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of SEI Investments by 7.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the asset manager's stock valued at $168,000 after buying an additional 133 shares in the last quarter. Commerce Bank lifted its stake in SEI Investments by 1.3% in the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager's stock worth $825,000 after acquiring an additional 133 shares in the last quarter. Root Financial Partners LLC boosted its position in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock worth $38,000 after acquiring an additional 141 shares during the period. Focus Partners Advisor Solutions LLC boosted its position in SEI Investments by 1.2% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager's stock worth $981,000 after acquiring an additional 141 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in SEI Investments by 1.2% during the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager's stock worth $965,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

Shares of SEIC opened at $106.93 on Monday. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 18.86 and a beta of 0.97. The company's fifty day moving average is $104.08 and its 200-day moving average is $91.76. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $112.15.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. Equities analysts expect that SEI Investments Company will post 6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SEIC. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Zacks Research lowered SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Friday, August 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.60.

Insider Activity at SEI Investments

In other news, insider Philip McCabe sold 24,957 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the transaction, the insider owned 54,884 shares of the company's stock, valued at approximately $5,765,015.36. This represents a 31.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares in the company, valued at $595,549,566.75. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 179,832 shares of company stock valued at $17,897,438. Insiders own 4.80% of the company's stock.

About SEI Investments

SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.

Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.

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