Insider Selling: SEI Investments (NASDAQ:SEIC) CEO Sells $4,151,625.00 in Stock

SEI Investments Company (NASDAQ:SEIC) CEO Ryan Hicke sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the completion of the sale, the chief executive officer owned 192,815 shares of the company’s stock, valued at approximately $21,346,548.65. The trade was a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

SEI Investments Trading Down 1.6%

NASDAQ SEIC traded down $1.79 during mid-day trading on Tuesday, hitting $108.60. The company’s stock had a trading volume of 846,055 shares, compared to its average volume of 777,793. The stock’s fifty day simple moving average is $102.70 and its two-hundred day simple moving average is $91.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $112.15. The firm has a market capitalization of $13.03 billion, a P/E ratio of 19.15 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data 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. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts expect that SEI Investments Company will post 6.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Oxbow Advisors LLC bought a new stake in shares of SEI Investments in the 1st quarter worth $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in SEI Investments during the fourth quarter valued at about $3,217,000. Lazard Asset Management LLC grew its holdings in SEI Investments by 85.2% during the first quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 17,504 shares during the period. King Luther Capital Management Corp grew its holdings in SEI Investments by 10.2% during the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock worth $11,273,000 after acquiring an additional 12,713 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in SEI Investments in the first quarter worth about $3,625,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SEIC. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. UBS Group reissued a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a report on Thursday, July 23rd. Morgan Stanley raised their target price on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Finally, Raymond James Financial boosted their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

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.