SEI Investments (NASDAQ:SEIC) Chairman Sells $2,983,210.65 in Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SEI Investments Stock Up 0.2 %

Shares of SEI Investments stock opened at $67.46 on Friday. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The stock has a 50 day moving average price of $66.19 and a two-hundred day moving average price of $67.23. The stock has a market capitalization of $8.86 billion, a P/E ratio of 18.43, a PEG ratio of 1.33 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same period in the previous year, the company earned $0.89 earnings per share. SEI Investments’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments will post 4.19 earnings per share for the current year.

Wall Street Analyst Weigh In

SEIC has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler decreased their price objective on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. One 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 company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and a consensus target price of $71.25.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently bought and sold shares of the company. Aurora Investment Counsel increased its stake in shares of SEI Investments by 1.6% in the second quarter. Aurora Investment Counsel now owns 25,018 shares of the asset manager’s stock worth $1,618,000 after purchasing an additional 395 shares during the period. Brandes Investment Partners LP grew its holdings in SEI Investments by 34.6% in the 2nd quarter. Brandes Investment Partners LP now owns 13,810 shares of the asset manager’s stock valued at $893,000 after buying an additional 3,550 shares during the last quarter. Quarry LP bought a new position in SEI Investments in the 2nd quarter worth approximately $136,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of SEI Investments by 29.4% in the second quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock valued at $766,000 after acquiring an additional 2,689 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

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.