Teacher Retirement System of Texas Increases Stock Position in SEI Investments (NASDAQ:SEIC)

Teacher Retirement System of Texas raised its holdings in SEI Investments (NASDAQ:SEIC) by 69.2% during the 4th quarter, Holdings Channel reports. The firm owned 258,956 shares of the asset manager’s stock after purchasing an additional 105,908 shares during the quarter. Teacher Retirement System of Texas’ holdings in SEI Investments were worth $21,359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Allworth Financial LP raised its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after buying an additional 158 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments in the third quarter valued at approximately $45,000. Rialto Wealth Management LLC acquired a new position in shares of SEI Investments in the fourth quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the subject of a number of analyst reports. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Oppenheimer upped their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Morgan Stanley upped their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average rating of “Hold” and a consensus target price of $90.00.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 over the last 90 days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $75.84 on Friday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a 50 day moving average price of $80.71 and a 200 day moving average price of $77.96. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, equities analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a share buyback plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

SEI Investments 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.