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

Teacher Retirement System of Texas increased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 69.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.20% of SEI Investments worth $21,359,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Boston Trust Walden Corp grew its stake in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after acquiring an additional 20,020 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares in the last quarter. FMR LLC raised its position in shares of SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SEI Investments by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock worth $55,124,000 after purchasing an additional 3,967 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the 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 completion of the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 completion of the transaction, the insider now 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. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company's stock.

SEI Investments Stock Up 0.1 %

SEIC stock traded up $0.05 during midday trading on Wednesday, hitting $78.32. The company's stock had a trading volume of 685,728 shares, compared to its average volume of 611,910. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock's 50-day moving average price is $80.62 and its 200 day moving average price is $78.28.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.