State of Alaska Department of Revenue Raises Stake in SEI Investments (NASDAQ:SEIC)

State of Alaska Department of Revenue lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 48.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,559 shares of the asset manager’s stock after buying an additional 7,377 shares during the quarter. State of Alaska Department of Revenue’s holdings in SEI Investments were worth $1,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in SEI Investments in the second quarter valued at approximately $35,000. Machina Capital S.A.S. acquired a new position in SEI Investments during the second quarter valued at approximately $48,000. Flagship Harbor Advisors LLC lifted its position in SEI Investments by 28.6% during the second quarter. Flagship Harbor Advisors LLC now owns 900 shares of the asset manager’s stock valued at $50,000 after buying an additional 200 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in SEI Investments by 336.5% during the first quarter. Rockefeller Capital Management L.P. now owns 1,724 shares of the asset manager’s stock valued at $90,000 after buying an additional 1,329 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in SEI Investments during the second quarter valued at approximately $92,000. Institutional investors and hedge funds own 69.24% of the company’s stock.

NASDAQ SEIC opened at $59.16 on Friday. The company’s fifty day simple moving average is $58.33 and its 200-day simple moving average is $55.85. SEI Investments has a 52 week low of $42.27 and a 52 week high of $61.35. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $8.74 billion, a P/E ratio of 18.84, a PEG ratio of 1.50 and a beta of 1.31.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. SEI Investments had a net margin of 29.85% and a return on equity of 29.86%. The business had revenue of $409.60 million for the quarter, compared to analysts’ expectations of $412.28 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that SEI Investments will post 3.22 EPS for the current fiscal year.

SEIC has been the topic of a number of recent research reports. ValuEngine cut shares of SEI Investments from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. SEI Investments currently has an average rating of “Hold” and a consensus price target of $61.50.

In related news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Friday, September 13th. The shares were sold at an average price of $61.00, for a total value of $305,000.00. Following the completion of the sale, the director now owns 671,915 shares in the company, valued at $40,986,815. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dennis Mcgonigle sold 19,722 shares of SEI Investments stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $58.19, for a total transaction of $1,147,623.18. Following the completion of the sale, the insider now owns 587,262 shares of the company’s stock, valued at approximately $34,172,775.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,222 shares of company stock worth $2,322,423. Corporate insiders own 22.60% of the company’s stock.

SEI Investments Company Profile

SEI Investments Company 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.

Further Reading: What is the formula for calculating total return?

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments (NASDAQ:SEIC).

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

Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.