SEI Investments (NASDAQ:SEIC) Chairman Sells $2,935,939.60 in Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 28,394 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $103.40, for a total transaction of $2,935,939.60. Following the sale, the chairman directly owned 6,790,057 shares of the company’s stock, valued at $702,091,893.80. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

SEI Investments Trading Up 1.2%

Shares of SEIC traded up $1.21 during midday trading on Thursday, hitting $103.87. The stock had a trading volume of 661,208 shares, compared to its average volume of 790,714. The business has a 50-day simple moving average of $106.10 and a two-hundred day simple moving average of $93.90. The firm has a market cap of $12.47 billion, a P/E ratio of 18.32 and a beta of 0.97. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. As a group, equities analysts forecast that SEI Investments Company will post 6.21 EPS for the current year.

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of SEI Investments by 7.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the asset manager’s stock worth $168,000 after buying an additional 133 shares during the last quarter. Root Financial Partners LLC raised its holdings in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares during the period. Glenmede Trust Co. NA lifted its position in SEI Investments by 1.2% during the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock worth $965,000 after acquiring an additional 149 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares during the last quarter. Finally, CX Institutional boosted its holdings in shares of SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SEIC. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. William Blair raised SEI Investments from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. UBS Group reiterated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Piper Sandler increased their price objective on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and an average target price of $122.60.

About SEI Investments

SEI Investments Company (NASDAQ:SEIC) is a global provider of investment processing, management, and operations solutions. The company serves financial institutions, wealth managers, asset managers, investment managers, and institutional investors through technology-enabled platforms and outsourced services.

Its offerings include investment accounting, fund administration, portfolio management, compliance support, wealth management technology, and data and analytics solutions. SEI also provides investment strategies and manages assets for institutions, advisors, and private clients through its investment management business.

Founded in 1968 by Alfred P.