Teacher Retirement System of Texas Boosts Stake in SEI Investments Company $SEIC

Teacher Retirement System of Texas boosted its position in SEI Investments Company (NASDAQ:SEIC) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,295 shares of the asset manager’s stock after purchasing an additional 7,584 shares during the quarter. Teacher Retirement System of Texas’ holdings in SEI Investments were worth $8,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ethic Inc. increased its stake in shares of SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after acquiring an additional 133 shares in the last quarter. Fifth Third Bancorp grew its holdings in SEI Investments by 12.0% in the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after purchasing an additional 141 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of SEI Investments by 3.2% during 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. WealthCollab LLC increased its stake in shares of SEI Investments by 33.7% during the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 193 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $85.20 on Monday. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $10.43 billion, a PE ratio of 15.66 and a beta of 0.97. The firm’s 50 day moving average price is $83.23 and its 200-day moving average price is $85.26. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given a dividend of $0.52 per share. This represents a dividend yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s payout ratio is presently 19.12%.

SEI Investments announced that its board has approved a share buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SEIC shares. Raymond James Financial reiterated an “outperform” rating and set a $117.00 price objective on shares of SEI Investments in a research note on Monday, January 5th. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and raised their price target for the company from $93.00 to $102.00 in a report on Tuesday, December 23rd. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $107.80.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were 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 approximately $561,465,206.44. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.30% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.