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 stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SEI Investments Trading Down 0.7 %

Shares of NASDAQ SEIC traded down $0.61 during midday trading on Tuesday, reaching $85.12. The company’s stock had a trading volume of 790,274 shares, compared to its average volume of 598,540. The stock has a 50 day simple moving average of $78.49 and a 200-day simple moving average of $70.82. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25.

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 during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. As a group, equities analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

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

SEI Investments Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.50.

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Dimensional Fund Advisors LP grew its position in 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 valued at $89,291,000 after acquiring an additional 222,631 shares during the last quarter. Bank of New York Mellon Corp raised its stake in SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after acquiring an additional 36,810 shares in the last quarter. FMR LLC lifted its holdings in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares in the last quarter. 70.59% of the stock is currently 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.