Michael Peterson Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Michael Peterson also recently made the following trade(s):

• On Friday, October 25th, Michael Peterson sold 25,000 shares of SEI Investments stock. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00.

SEI Investments Stock Down 0.1 %

Shares of NASDAQ:SEIC opened at $80.11 on Friday. The business has a 50-day moving average price of $70.94 and a 200-day moving average price of $68.08. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.52 and a beta of 0.97. SEI Investments has a 52-week low of $55.64 and a 52-week high of $80.81.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that SEI Investments will post 4.38 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Morgan Stanley increased their target price on SEI Investments from $70.00 to $75.00 and gave the stock 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 stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $77.50.

Institutional Investors Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aurora Investment Counsel raised its holdings in shares of SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares during the period. Portfolio Design Labs LLC acquired a new stake in SEI Investments in the 3rd quarter valued at about $1,701,000. First Horizon Advisors Inc. raised its position in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Caprock Group LLC raised its position in SEI Investments by 21.7% in the 3rd quarter. Caprock Group LLC now owns 4,375 shares of the asset manager’s stock valued at $303,000 after purchasing an additional 779 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in SEI Investments by 0.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 210,704 shares of the asset manager’s stock valued at $14,579,000 after purchasing an additional 603 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 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.