Michael Peterson Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the sale, the executive vice president now owns 6,500 shares in the company, valued at $514,410. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Michael Peterson also recently made the following trade(s):

• On Friday, October 25th, Michael Peterson sold 25,000 shares of SEI Investments stock. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00.

SEI Investments Stock Down 0.1 %

Shares of SEIC stock opened at $80.11 on Friday. SEI Investments has a 12 month low of $55.64 and a 12 month high of $80.81. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.52 and a beta of 0.97. The stock has a 50-day moving average price of $70.94 and a 200 day moving average price of $68.07.

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, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the business posted $0.87 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that SEI Investments will post 4.38 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in SEIC. BI Asset Management Fondsmaeglerselskab A S raised 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 valued at $446,000 after acquiring an additional 2,418 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after buying an additional 244 shares during the period. Texas Permanent School Fund Corp grew its stake in SEI Investments by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 87,252 shares of the asset manager’s stock valued at $6,273,000 after acquiring an additional 860 shares during the period. Duality Advisers LP increased its holdings in shares of SEI Investments by 61.7% in the first quarter. Duality Advisers LP now owns 31,581 shares of the asset manager’s stock worth $2,271,000 after acquiring an additional 12,051 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of SEI Investments by 25.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,868 shares of the asset manager’s stock worth $350,000 after purchasing an additional 975 shares during the period. Institutional investors and hedge funds 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. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer lifted 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 restated a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Piper Sandler upped their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.