South Dakota Investment Council bought a new stake in shares of SEI Investments (NASDAQ:SEIC) in the first quarter, Holdings Channel reports. The institutional investor bought 33,400 shares of the asset manager’s stock, valued at approximately $1,745,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SEIC. Ruggie Capital Group purchased a new position in shares of SEI Investments in the 4th quarter valued at $27,000. Global Retirement Partners LLC increased its holdings in shares of SEI Investments by 67.9% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 309 shares during the period. ETF Managers Group LLC increased its holdings in shares of SEI Investments by 15.7% in the 4th quarter. ETF Managers Group LLC now owns 1,722 shares of the asset manager’s stock valued at $80,000 after acquiring an additional 234 shares during the period. First Bank & Trust purchased a new position in shares of SEI Investments in the 1st quarter valued at $93,000. Finally, First Financial Corp IN purchased a new position in shares of SEI Investments in the 1st quarter valued at $131,000. 69.72% of the stock is owned by institutional investors and hedge funds.
SEIC stock traded up $0.74 on Tuesday, hitting $51.13. 8,453 shares of the company’s stock were exchanged, compared to its average volume of 742,666. SEI Investments has a 12-month low of $42.27 and a 12-month high of $69.44. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24.
A number of research analysts have recently issued reports on SEIC shares. BidaskClub upgraded SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. William Blair restated a “market perform” rating on shares of SEI Investments in a research note on Monday, April 22nd. ValuEngine upgraded SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded SEI Investments from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 17th. Finally, TheStreet upgraded SEI Investments from a “c+” rating to a “b-” rating in a research note on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.20.
In related news, EVP Wayne Withrow sold 10,000 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $50.50, for a total transaction of $505,000.00. Following the transaction, the executive vice president now directly owns 41,714 shares in the company, valued at approximately $2,106,557. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $51.96, for a total value of $259,800.00. Following the sale, the director now owns 10,681 shares in the company, valued at approximately $554,984.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 296,603 shares of company stock worth $15,627,842. 22.60% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “South Dakota Investment Council Takes $1.75 Million Position in SEI Investments (SEIC)” was posted by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://www.themarketsdaily.com/2019/05/14/south-dakota-investment-council-takes-1-75-million-position-in-sei-investments-seic.html.
About SEI Investments
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.
Recommended Story: What is the cash asset ratio?
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).
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.