Teacher Retirement System of Texas Raises Position in SEI Investments Company (NASDAQ:SEIC)

Teacher Retirement System of Texas increased its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,599 shares of the asset manager's stock after acquiring an additional 58,643 shares during the period. Teacher Retirement System of Texas owned about 0.25% of SEI Investments worth $24,655,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in shares of SEI Investments in the fourth quarter worth about $993,000. Fisher Asset Management LLC increased its holdings in SEI Investments by 4.2% in the 4th quarter. Fisher Asset Management LLC now owns 7,949 shares of the asset manager's stock worth $656,000 after acquiring an additional 322 shares in the last quarter. US Bancorp DE lifted its holdings in SEI Investments by 0.6% in the 4th quarter. US Bancorp DE now owns 36,509 shares of the asset manager's stock worth $3,011,000 after purchasing an additional 235 shares in the last quarter. Metis Global Partners LLC grew its holdings in SEI Investments by 3.4% during the 4th quarter. Metis Global Partners LLC now owns 6,795 shares of the asset manager's stock valued at $560,000 after buying an additional 226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in SEI Investments by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock worth $55,124,000 after buying an additional 3,967 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

Insider Activity

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the sale, the insider directly owned 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,126 shares of company stock worth $19,638,659. Insiders own 14.60% of the company's stock.

SEI Investments Price Performance

NASDAQ:SEIC traded up $1.14 during mid-day trading on Friday, reaching $93.10. The stock had a trading volume of 516,585 shares, compared to its average volume of 742,340. The business's 50 day moving average is $84.17 and its 200 day moving average is $80.83. SEI Investments Company has a fifty-two week low of $62.38 and a fifty-two week high of $93.75. The stock has a market cap of $11.59 billion, a P/E ratio of 20.24, a PEG ratio of 1.60 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period in the prior year, the business posted $0.99 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. Equities analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is currently 21.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SEIC shares. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer upped their price target on SEI Investments from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Morgan Stanley reissued an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Piper Sandler raised their target price on shares of SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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.