SEI Investments (NASDAQ:SEIC) Director Sells $398,200.00 in Stock

SEI Investments (NASDAQ:SEIC) Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

SEI Investments Trading Down 0.1 %

SEIC traded down $0.06 during trading on Friday, reaching $80.11. 321,216 shares of the company were exchanged, compared to its average volume of 589,482. The stock has a market cap of $10.33 billion, a P/E ratio of 19.36, a PEG ratio of 1.52 and a beta of 0.97. SEI Investments has a 52 week low of $55.64 and a 52 week high of $80.81. The firm has a 50 day moving average of $70.69 and a 200 day moving average of $67.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the business posted $0.87 EPS. SEI Investments’s revenue was up 12.7% on a year-over-year basis. As a group, analysts forecast that SEI Investments will post 4.38 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On SEI Investments

Several large investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments in the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. raised its stake in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Morgan Stanley upped 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 boosted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently 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.