Alfred P. West, Jr. Sells 5,984 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 5,984 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $84.23, for a total transaction of $504,032.32. Following the transaction, the chairman now owns 7,371,522 shares of the company’s stock, valued at $620,903,298.06. This represents a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

SEI Investments Trading Up 0.3 %

SEIC stock opened at $84.09 on Friday. The firm’s 50-day moving average is $76.54 and its two-hundred day moving average is $70.04. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98. SEI Investments has a 52 week low of $59.48 and a 52 week high of $84.55.

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

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

Institutional Trading of SEI Investments

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares in the last quarter. Geode Capital Management LLC lifted its stake in SEI Investments by 13.5% during the third 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 boosted its holdings in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in SEI Investments in the second quarter worth approximately $7,787,000. Finally, Verition Fund Management LLC increased its holdings in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after buying an additional 107,222 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Ratings Changes

SEIC has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler raised their target price on SEI Investments from $74.00 to $77.00 and gave the company 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 issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.