Insider Selling: SEI Investments (NASDAQ:SEIC) CEO Sells 10,000 Shares of Stock

SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the sale, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

SEI Investments Stock Down 2.0 %

Shares of NASDAQ SEIC opened at $74.76 on Friday. SEI Investments has a fifty-two week low of $53.37 and a fifty-two week high of $76.95. The business has a 50 day moving average price of $69.49 and a two-hundred day moving average price of $67.54. The firm has a market cap of $9.64 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the firm earned $0.87 EPS. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts anticipate that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SEIC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Piper Sandler raised their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average target price of $77.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SEIC. State of Michigan Retirement System grew its position in shares of SEI Investments by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock worth $1,914,000 after acquiring an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of SEI Investments by 1.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock worth $6,185,000 after acquiring an additional 1,391 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of SEI Investments in the 1st quarter worth approximately $717,000. BI Asset Management Fondsmaeglerselskab A S grew its position 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. Finally, Chevy Chase Trust Holdings LLC grew its position in shares of SEI Investments by 0.9% in 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 in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.