SEI Investments (NASDAQ:SEIC) Chairman Sells $104,656.16 in Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SEI Investments Stock Down 0.3 %

SEIC opened at $75.77 on Monday. The firm has a market cap of $9.62 billion, a PE ratio of 17.14, a P/E/G ratio of 1.41 and a beta of 0.94. The business has a fifty day simple moving average of $82.11 and a 200-day simple moving average of $77.60. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is a positive change 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 currently 22.17%.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares in the last quarter. Norges Bank purchased a new position in shares of SEI Investments during the fourth quarter valued at $48,009,000. Raymond James Financial Inc. purchased a new position in shares of SEI Investments during the fourth quarter valued at $42,548,000. Los Angeles Capital Management LLC purchased a new position in shares of SEI Investments during the fourth quarter valued at $26,702,000. Finally, Geode Capital Management LLC grew its holdings in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SEIC. Morgan Stanley raised their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. One research 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. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $90.00.

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.