SEI Investments Company $SEIC Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its SEI Investments stake by 27.1% in the first quarter, bringing its holdings to 125,866 shares worth approximately $9.9 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments reported quarterly EPS of $1.66, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million. Analysts maintain a consensus “Buy” rating with an average price target of $122.60.
• Insiders sold 102,332 shares valued at about $9.6 million over the past 90 days, including sales by insider Sanjay Sharma and director Carl Guarino.

California State Teachers Retirement System lifted its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,866 shares of the asset manager's stock after purchasing an additional 26,839 shares during the period. California State Teachers Retirement System owned about 0.10% of SEI Investments worth $9,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. CIBC Private Wealth Group LLC raised its holdings in SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC boosted its position in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock worth $38,000 after purchasing an additional 141 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares during the period. Rothschild Investment LLC grew its holdings in SEI Investments by 266.9% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager's stock valued at $46,000 after purchasing an additional 411 shares during the period. Finally, SJS Investment Consulting Inc. increased its position in shares of SEI Investments by 250.5% in the first quarter. SJS Investment Consulting Inc. now owns 694 shares of the asset manager's stock valued at $54,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Buying and Selling

In related news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider owned 39,829 shares of the company's stock, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carl Guarino sold 10,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the sale, the director directly owned 18,308 shares of the company's stock, valued at $1,889,202.52. This represents a 35.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,332 shares of company stock valued at $9,556,993 over the last 90 days. Insiders own 4.80% of the company's stock.

SEI Investments Stock Up 1.2%

SEIC stock opened at $104.19 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $93.18 and a two-hundred day moving average of $86.82. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $104.47. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.96.

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

SEI Investments Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments's dividend payout ratio (DPR) is 18.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler upped their target price on SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research report on Monday, July 6th. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $122.60.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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