SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 72,842 Shares

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $76.93 on Thursday. The business’s 50 day simple moving average is $82.58 and its 200 day simple moving average is $77.40. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a market capitalization of $9.77 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, sell-side analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a $0.49 dividend. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is currently 22.17%.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of SEI Investments by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock worth $212,589,000 after acquiring an additional 60,307 shares in the last quarter. Boston Trust Walden Corp lifted its stake in SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares during the last quarter. FMR LLC boosted its holdings in shares of SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of SEI Investments by 20.9% in the 4th quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock valued at $88,104,000 after purchasing an additional 184,339 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SEIC shares. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $90.00.

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.