Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells $640,743.48 in 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 transaction of $640,743.48. Following the sale, the chairman 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 transaction was disclosed in a legal filing with the SEC, which is available through this link.

SEI Investments Stock Performance

SEIC traded down $0.94 on Monday, reaching $86.31. The company had a trading volume of 316,051 shares, compared to its average volume of 805,262. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The stock has a market cap of $10.38 billion, a P/E ratio of 14.73 and a beta of 0.97. The company’s fifty day moving average is $89.12 and its 200 day moving average is $84.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same period last year, the business posted $1.17 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts predict that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new stake in SEI Investments in the third quarter valued at about $35,000. Allworth Financial LP lifted its holdings 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 acquiring 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 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of SEI Investments by 40.8% during the 1st 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 last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of SEI Investments by 60.2% during the 1st 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 last quarter. 70.59% of the stock is currently 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.