SEI Investments (NASDAQ:SEIC) Chairman Sells $4,435,539.66 in Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the transaction, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

SEI Investments Price Performance

NASDAQ:SEIC opened at $81.47 on Friday. SEI Investments has a 1 year low of $61.58 and a 1 year high of $87.25. The business has a fifty day simple moving average of $79.20 and a two-hundred day simple moving average of $71.08. The company has a market capitalization of $10.50 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. As a group, analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be given a $0.49 dividend. The ex-dividend date is Friday, December 27th. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is 23.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments in the second quarter worth $30,000. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the period. Point72 DIFC Ltd purchased a new position in SEI Investments during the 3rd quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SEIC. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.50.

About SEI Investments

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.