Alfred P. West, Jr. Sells 94,158 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the transaction, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $85.12 on Wednesday. The business has a fifty day moving average price of $78.79 and a 200 day moving average price of $70.94. SEI Investments has a 1-year low of $61.58 and a 1-year high of $87.25. The stock has a market capitalization of $10.97 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate 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 quarter 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, equities research analysts anticipate that SEI Investments will post 4.41 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 buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be issued a $0.49 dividend. This represents a yield of 1.1%. The ex-dividend date is Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 23.67%.

Analyst Ratings Changes

SEIC has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler lifted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer increased their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments during the 2nd quarter valued at about $30,000. First Horizon Advisors Inc. boosted its position in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd purchased a new position in SEI Investments during the 3rd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 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 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.