SEI Investments (NASDAQ:SEIC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,555 shares of the asset manager's stock after selling 7,312 shares during the quarter. California State Teachers Retirement System owned about 0.10% of SEI Investments worth $10,768,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in SEI Investments in the fourth quarter worth $31,000. Allworth Financial LP lifted its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. lifted its position in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in SEI Investments in the fourth quarter worth $55,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the sale, the executive vice president now owns 13,500 shares of the company's stock, valued at $1,137,645. The trade was a 78.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman now directly owns 7,003,708 shares of the company's stock, valued at $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,126 shares of company stock worth $19,638,659. Insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Morgan Stanley lifted their target price on SEI Investments from $82.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $88.00.

SEI Investments Stock Up 0.8%

Shares of SEIC stock traded up $0.72 on Wednesday, hitting $85.69. The stock had a trading volume of 422,153 shares, compared to its average volume of 714,857. The business has a 50 day moving average price of $78.21 and a 200 day moving average price of $80.31. The company has a market cap of $10.67 billion, a PE ratio of 19.39, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.49 per share. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.29%. SEI Investments's payout ratio is presently 21.30%.

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.