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

Teacher Retirement System of Texas trimmed its stake in SEI Investments (NASDAQ:SEIC) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,022 shares of the asset manager’s stock after selling 17,982 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of SEI Investments worth $10,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Forsta AP Fonden purchased a new position in shares of SEI Investments in the 1st quarter valued at $2,346,000. Taylor Hoffman Wealth Management grew its position in shares of SEI Investments by 6.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 31,595 shares of the asset manager’s stock valued at $1,816,000 after buying an additional 2,040 shares during the last quarter. Interval Partners LP grew its position in shares of SEI Investments by 82.8% in the 4th quarter. Interval Partners LP now owns 120,903 shares of the asset manager’s stock valued at $6,948,000 after buying an additional 54,778 shares during the last quarter. California Public Employees Retirement System grew its position in shares of SEI Investments by 5.1% in the 4th quarter. California Public Employees Retirement System now owns 278,477 shares of the asset manager’s stock valued at $16,004,000 after buying an additional 13,600 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in shares of SEI Investments by 2.8% in the 1st quarter. Standard Life Aberdeen plc now owns 12,359 shares of the asset manager’s stock valued at $753,000 after buying an additional 340 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SEI Investments stock opened at $62.47 on Friday. SEI Investments has a 1 year low of $48.70 and a 1 year high of $64.78. The stock has a market cap of $8.92 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.42 and a beta of 1.09. The stock’s fifty day simple moving average is $62.42.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Tuesday, April 20th. The asset manager reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. SEI Investments had a net margin of 27.10% and a return on equity of 26.69%. The company had revenue of $455.69 million during the quarter, compared to analysts’ expectations of $453.55 million. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up 9.9% on a year-over-year basis. Analysts expect that SEI Investments will post 3.68 EPS for the current year.

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 2nd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 22nd. Stockholders of record on Monday, June 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, June 11th. This is a boost from SEI Investments’s previous quarterly dividend of $0.35. SEI Investments’s dividend payout ratio (DPR) is 24.67%.

In other news, Director William Doran sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $63.27, for a total value of $632,700.00. Following the completion of the sale, the director now owns 659,915 shares in the company, valued at approximately $41,752,822.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.50% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the stock. Oppenheimer increased their target price on shares of SEI Investments from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, April 22nd. Morgan Stanley lowered their price objective on shares of SEI Investments from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. SEI Investments presently has a consensus rating of “Buy” and a consensus price target of $68.38.

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.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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