Michael Peterson Sells 25,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SEI Investments Stock Performance

Shares of SEIC stock traded up $0.39 during mid-day trading on Tuesday, reaching $76.20. 730,608 shares of the company’s stock traded hands, compared to its average volume of 587,813. The firm has a market capitalization of $9.90 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. SEI Investments has a 12 month low of $52.95 and a 12 month high of $76.51. The firm has a 50 day moving average price of $69.12 and a two-hundred day moving average price of $67.41.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The business 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%. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, equities analysts expect that SEI Investments will post 4.38 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of SEI Investments during the 1st quarter valued at $14,172,000. Jupiter Asset Management Ltd. bought a new position in SEI Investments in the 2nd quarter worth $7,787,000. West Coast Financial LLC increased its stake in SEI Investments by 120.8% in the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after buying an additional 63,537 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in SEI Investments by 67.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after acquiring an additional 58,808 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

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.