Texas Permanent School Fund Corp Boosts Position in SEI Investments (NASDAQ:SEIC)

Texas Permanent School Fund Corp lifted its position in SEI Investments (NASDAQ:SEIC) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,639 shares of the asset manager’s stock after purchasing an additional 8,387 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of SEI Investments worth $6,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in SEI Investments in the fourth quarter valued at about $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in SEI Investments in the first quarter valued at approximately $14,172,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in SEI Investments during the fourth quarter worth $6,990,000. Power Corp of Canada purchased a new position in shares of SEI Investments during the fourth quarter worth $5,649,000. Finally, Bank of Nova Scotia grew its stake in shares of SEI Investments by 190.9% in the fourth quarter. Bank of Nova Scotia now owns 114,840 shares of the asset manager’s stock valued at $7,298,000 after buying an additional 75,358 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Down 0.8 %

Shares of SEI Investments stock opened at $66.28 on Thursday. The company has a fifty day simple moving average of $66.45 and a 200-day simple moving average of $67.26. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.30 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that SEI Investments will post 4.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SEIC. Piper Sandler decreased their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.25.

Insider Transactions at SEI Investments

In other news, Director William Doran sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the sale, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William Doran sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders have sold a total of 137,582 shares of company stock worth $9,277,605 over the last ninety days. 14.30% of the stock is currently owned by company insiders.

SEI Investments Company 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.