SEI Investments (NASDAQ:SEIC) Chairman Alfred West, Jr. Sells 50,000 Shares

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SEI Investments Price Performance

SEIC traded down $0.94 during trading hours on Monday, hitting $86.31. The company’s stock had a trading volume of 316,051 shares, compared to its average volume of 805,262. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 14.73 and a beta of 0.97. The business’s 50-day moving average price is $89.12 and its 200-day moving average price is $84.53. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. During the same quarter last year, the business earned $1.17 earnings per share. SEI Investments’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently bought and sold shares of the business. Community Bank N.A. bought a new stake in shares of SEI Investments during the third quarter worth $35,000. Allworth Financial LP increased its position in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares during the period. Root Financial Partners LLC boosted its holdings in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

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

SEI Investments Company Profile

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.