Texas Permanent School Fund Corp Lowers Stock Holdings in SEI Investments Company $SEIC

Texas Permanent School Fund Corp lessened its position in SEI Investments Company (NASDAQ:SEIC) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,846 shares of the asset manager’s stock after selling 11,588 shares during the quarter. Texas Permanent School Fund Corp’s holdings in SEI Investments were worth $5,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cadence Bank grew its position in SEI Investments by 1.2% in the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after acquiring an additional 121 shares in the last quarter. Ethic Inc. boosted its stake in shares of SEI Investments by 3.0% in the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after purchasing an additional 133 shares during the period. Fifth Third Bancorp boosted its stake in shares of SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 141 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of SEI Investments by 3.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 179 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its stake in SEI Investments by 1.2% during the 1st quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock worth $1,180,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SEIC shares. Morgan Stanley raised their price target on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Raymond James Financial upped their price target on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised SEI Investments from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $93.00 to $97.00 in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.20.

Insider Buying and Selling at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the sale, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,770 shares of company stock worth $3,723,850 over the last three months. Insiders own 14.60% of the company’s stock.

SEI Investments Stock Up 0.1%

Shares of NASDAQ SEIC opened at $83.08 on Thursday. The business has a 50-day moving average of $81.50 and a two-hundred day moving average of $85.60. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 15.27 and a beta of 0.98. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62.

SEI Investments (NASDAQ:SEIC) last issued 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. The business had revenue of $578.51 million for the quarter, compared to analyst estimates of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. On average, analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

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

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.