SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 52,042 Shares

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the transaction, the chairman now directly owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SEI Investments Stock Up 0.9 %

NASDAQ SEIC opened at $81.47 on Friday. The stock’s 50-day simple moving average is $79.20 and its two-hundred day simple moving average is $71.08. SEI Investments has a twelve month low of $61.58 and a twelve month high of $87.25. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. On average, equities analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a stock repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

Institutional Trading of SEI Investments

Several institutional investors have recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. grew its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the third quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SEIC. Oppenheimer boosted their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Company Profile

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.