Alfred West, Jr. Sells 7,332 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 7,332 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $87.39, for a total value of $640,743.48. Following the completion of the sale, the chairman directly owned 6,818,451 shares of the company’s stock, valued at approximately $595,864,432.89. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

SEI Investments Stock Performance

SEIC opened at $87.71 on Wednesday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $93.96. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.55 billion, a P/E ratio of 14.97 and a beta of 0.97. The firm’s 50-day moving average price is $89.43 and its 200-day moving average price is $84.60.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The company had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. SEI Investments’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.17 EPS. As a group, equities analysts anticipate that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s payout ratio is presently 17.75%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SEIC shares. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target on shares of SEI Investments in a research report on Wednesday, April 29th. Morgan Stanley cut their price objective on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Community Bank N.A. purchased a new position in shares of SEI Investments during the 3rd quarter valued at about $35,000. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares during the last quarter. Root Financial Partners LLC grew its holdings in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

About SEI Investments

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.