Teacher Retirement System of Texas Reduces Stock Position in SEI Investments Company $SEIC

Teacher Retirement System of Texas cut its stake in SEI Investments Company (NASDAQ:SEIC) by 70.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,711 shares of the asset manager’s stock after selling 222,888 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of SEI Investments worth $8,511,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SEIC. Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in SEI Investments in the second quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in SEI Investments by 252.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after buying an additional 363 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock valued at $62,000 after buying an additional 225 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager’s stock valued at $106,000 after buying an additional 1,282 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Trading Down 1.5%

Shares of SEI Investments stock opened at $80.61 on Thursday. The firm has a market cap of $9.87 billion, a PE ratio of 14.82, a P/E/G ratio of 1.23 and a beta of 0.96. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The business’s fifty day moving average is $85.48 and its two-hundred day moving average is $85.27.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The firm had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a share buyback program on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

SEIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Raymond James Financial raised their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Morgan Stanley raised their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Insider Buying and Selling

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the transaction, the director owned 16,042 shares of the company’s stock, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 55,000 shares of company stock valued at $4,811,200. Insiders own 14.60% of the company’s stock.

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.