Arizona State Retirement System Increases Holdings in SEI Investments (SEIC)

Arizona State Retirement System raised its position in shares of SEI Investments (NASDAQ:SEIC) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,538 shares of the asset manager’s stock after purchasing an additional 2,442 shares during the period. Arizona State Retirement System owned 0.06% of SEI Investments worth $5,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ropes Wealth Advisors LLC bought a new position in SEI Investments during the second quarter valued at $100,000. First Hawaiian Bank bought a new position in SEI Investments during the third quarter valued at $102,000. Flagship Harbor Advisors LLC bought a new position in SEI Investments during the second quarter valued at $177,000. Smith Shellnut Wilson LLC ADV bought a new position in SEI Investments during the third quarter valued at $210,000. Finally, Hartford Investment Management Co. bought a new position in SEI Investments during the second quarter valued at $211,000. 69.54% of the stock is owned by institutional investors and hedge funds.

SEI Investments stock opened at $53.93 on Tuesday. SEI Investments has a one year low of $50.99 and a one year high of $78.35. The firm has a market capitalization of $8.44 billion, a PE ratio of 23.25, a P/E/G ratio of 1.42 and a beta of 1.20.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Tuesday, October 23rd. The asset manager reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. SEI Investments had a return on equity of 30.73% and a net margin of 31.46%. The firm had revenue of $408.68 million during the quarter, compared to analyst estimates of $410.35 million. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 3.19 EPS for the current fiscal year.

In related news, insider Joseph P. Ujobai sold 1,500 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $59.80, for a total value of $89,700.00. Following the sale, the insider now owns 29,567 shares in the company, valued at $1,768,106.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph P. Ujobai sold 1,473 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $59.84, for a total value of $88,144.32. Following the completion of the sale, the insider now owns 14,013 shares in the company, valued at approximately $838,537.92. The disclosure for this sale can be found here. Insiders sold 17,973 shares of company stock worth $1,120,294 in the last quarter. 17.30% of the stock is currently owned by company insiders.

A number of research firms have recently commented on SEIC. BidaskClub raised SEI Investments from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Keefe, Bruyette & Woods raised SEI Investments from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $68.00 to $63.00 in a report on Wednesday, October 24th. ValuEngine lowered SEI Investments from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, Mizuho reaffirmed a “buy” rating and issued a $85.00 price target on shares of SEI Investments in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. SEI Investments has an average rating of “Hold” and a consensus target price of $75.60.

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SEI Investments Company Profile

SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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