Insider Selling: SEI Investments (NASDAQ:SEIC) CEO Sells $6,988,800.00 in Stock

SEI Investments Company (NASDAQ:SEIC) CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the sale, the chief executive officer directly owned 197,164 shares in the company, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SEI Investments Stock Performance

SEIC opened at $85.94 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $84.35 and its two-hundred day moving average price is $84.95. The firm has a market capitalization of $10.52 billion, a P/E ratio of 15.26 and a beta of 0.95. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company had revenue of $607.93 million during the quarter, compared to analysts’ expectations of $596.97 million. During the same period in the prior year, the business earned $1.19 earnings per share. SEI Investments’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has authorized a stock buyback plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio is currently 18.47%.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bison Wealth LLC bought a new position in SEI Investments during the 4th quarter valued at about $207,000. Baird Financial Group Inc. acquired a new stake in shares of SEI Investments during the first quarter worth approximately $201,000. Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of SEI Investments by 39.3% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,830 shares of the asset manager’s stock worth $524,000 after acquiring an additional 1,645 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in SEI Investments during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SEIC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Piper Sandler raised their target price on SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Morgan Stanley lifted their price target 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. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.17.

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.