Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells $590,249.22 in Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 7,447 shares of SEI Investments stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the transaction, the chairman owned 6,875,783 shares of the company’s stock, valued at $544,974,560.58. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SEI Investments Stock Up 0.9%

Shares of SEI Investments stock opened at $79.89 on Friday. The business has a 50-day moving average price of $83.45 and a 200 day moving average price of $83.52. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The firm has a market cap of $9.77 billion, a P/E ratio of 14.19 and a beta of 0.96. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. On average, sell-side analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SEIC shares. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. UBS Group started coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Morgan Stanley increased their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $106.00 target price on shares of SEI Investments in a report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.67.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently modified their holdings of SEIC. Root Financial Partners LLC acquired a new stake in shares of SEI Investments in the 3rd quarter worth about $28,000. SJS Investment Consulting Inc. boosted its stake in SEI Investments by 142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 210 shares during the period. CoreFirst Bank & Trust bought a new position in SEI Investments in the 2nd quarter worth about $34,000. Community Bank N.A. acquired a new stake in shares of SEI Investments in the third quarter valued at approximately $35,000. Finally, Allworth Financial LP increased its stake in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.