SEI Investments (NASDAQ:SEIC) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of SEI Investments (NASDAQ:SEIC) by 69.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,956 shares of the asset manager’s stock after acquiring an additional 105,908 shares during the quarter. Teacher Retirement System of Texas owned about 0.20% of SEI Investments worth $21,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. King Luther Capital Management Corp acquired a new stake in SEI Investments during the 4th quarter worth $2,645,000. Boston Trust Walden Corp raised its stake in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after acquiring an additional 20,020 shares in the last quarter. Longboard Asset Management LP acquired a new position in SEI Investments in the fourth quarter valued at $267,000. New York Life Investment Management LLC acquired a new position in SEI Investments in the fourth quarter valued at $863,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in SEI Investments in the fourth quarter valued at $1,818,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Oppenheimer lifted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Down 0.2 %

Shares of SEI Investments stock opened at $75.84 on Friday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company’s 50-day simple moving average is $80.71 and its 200-day simple moving average is $77.96. The firm has a market cap 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 issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.