Texas Permanent School Fund Corp Purchases 860 Shares of SEI Investments (NASDAQ:SEIC)

Texas Permanent School Fund Corp grew its position in shares of SEI Investments (NASDAQ:SEIC) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,252 shares of the asset manager’s stock after acquiring an additional 860 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of SEI Investments worth $6,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SEIC. Mediolanum International Funds Ltd purchased a new stake in shares of SEI Investments in the first quarter worth approximately $1,443,000. Chevy Chase Trust Holdings LLC boosted its holdings in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after acquiring an additional 244 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of SEI Investments by 64.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock worth $446,000 after acquiring an additional 2,418 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of SEI Investments in the first quarter valued at about $717,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SEI Investments by 1.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock valued at $6,185,000 after purchasing an additional 1,391 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the completion of the transaction, the chairman now directly owns 7,677,471 shares in the company, valued at $522,759,000.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 48,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the sale, the chairman now directly owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The disclosure for this sale can be found here. Insiders have sold a total of 123,000 shares of company stock worth $8,406,920 over the last ninety days. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC traded up $0.38 during trading on Friday, hitting $67.03. 14,321 shares of the company’s stock traded hands, compared to its average volume of 570,177. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.32 and a beta of 0.99. The business has a 50 day moving average of $66.52 and a 200-day moving average of $66.63. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. SEI Investments’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. On average, analysts expect that SEI Investments will post 4.16 EPS for the current year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, June 10th. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s payout ratio is presently 25.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SEIC shares. Piper Sandler increased their price objective on shares of SEI Investments from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday. Oppenheimer upped their price objective on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 target price (up from $72.00) on shares of SEI Investments in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.75.

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.