SEI Investments (NASDAQ:SEIC) Chairman Sells $640,743.48 in Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 7,332 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $87.39, for a total value of $640,743.48. Following the sale, the chairman directly owned 6,818,451 shares in the company, valued at approximately $595,864,432.89. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SEI Investments Trading Up 2.7%

Shares of NASDAQ:SEIC opened at $90.05 on Thursday. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $93.96. The company has a market capitalization of $10.83 billion, a PE ratio of 15.37 and a beta of 0.97. The business has a 50 day moving average of $89.60 and a two-hundred day moving average of $84.64. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. As a group, analysts forecast that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a dividend of $0.52 per share. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is currently 17.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Morgan Stanley cut their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price target on shares of SEI Investments in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods increased their price target on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

Institutional Trading of SEI Investments

A number of institutional investors and hedge funds have recently modified their holdings of SEIC. Community Bank N.A. acquired a new stake in SEI Investments in the 3rd quarter worth about $35,000. Allworth Financial LP raised its holdings in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of SEI Investments by 40.8% in the first 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 in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

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.