SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 94,158 Shares

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 94,158 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now directly owns 7,284,964 shares in the company, valued at $624,539,963.72. This represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $81.47 on Friday. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The stock’s 50 day moving average price is $79.20 and its 200 day moving average price is $71.08.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its board has approved a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.50.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aurora Investment Counsel increased its holdings in shares of SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares in the last quarter. IFG Advisory LLC raised its position in shares of SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after purchasing an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings 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 purchasing an additional 168 shares during the last quarter. Creative Planning boosted its position in shares of SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the period. Finally, Signaturefd LLC increased its stake in SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after purchasing an additional 213 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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.