SEI Investments (NASDAQ:SEIC) Reaches New 1-Year High – Here’s What Happened

SEI Investments (NASDAQ:SEIC)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $72.58 and last traded at $72.50, with a volume of 24306 shares changing hands. The stock had previously closed at $71.68.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SEIC shares. Piper Sandler increased their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Oppenheimer increased their price objective on shares of SEI Investments from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.25.

SEI Investments Trading Up 0.9 %

The company has a market capitalization of $9.50 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The business’s 50-day simple moving average is $67.76 and its 200-day simple moving average is $67.23.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. Sell-side analysts forecast that SEI Investments will post 4.24 EPS for the current fiscal year.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 in the last 90 days. 14.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after acquiring an additional 222,631 shares during the period. Bank of New York Mellon Corp boosted its stake in SEI Investments by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after purchasing an additional 36,810 shares during the last quarter. Raymond James & Associates boosted its stake in SEI Investments by 4.8% during the 2nd quarter. Raymond James & Associates now owns 524,631 shares of the asset manager’s stock worth $33,938,000 after purchasing an additional 24,058 shares during the last quarter. ProShare Advisors LLC boosted its stake in SEI Investments by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock worth $30,082,000 after purchasing an additional 2,698 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in SEI Investments by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 384,371 shares of the asset manager’s stock worth $27,636,000 after purchasing an additional 8,222 shares during the last quarter. 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.