SEI Investments (NASDAQ:SEIC) Shares Break Below Fifty Day Moving Average – Should You Sell?

SEI Investments Company (NASDAQ:SEIC) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $105.82 and traded as low as $104.80. SEI Investments shares last traded at $105.46, with a volume of 774,446 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on SEI Investments from $125.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. UBS Group restated a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Piper Sandler reaffirmed an “overweight” rating and set a $129.00 price objective (up from $127.00) on shares of SEI Investments in a report on Thursday, October 22nd. Finally, Weiss Ratings upgraded shares of SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $125.50.

SEI Investments Trading Down 0.4%

The firm’s 50-day moving average price is $105.82 and its 200-day moving average price is $93.07. The company has a quick ratio of 4.23, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company has a market cap of $12.51 billion, a P/E ratio of 18.34 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The business had revenue of $662.04 million for the quarter, compared to analysts’ expectations of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. As a group, equities research analysts expect that SEI Investments Company will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 28,394 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $103.40, for a total transaction of $2,935,939.60. Following the transaction, the chairman directly owned 6,790,057 shares in the company, valued at approximately $702,091,893.80. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Hicke sold 37,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the transaction, the chief executive officer directly owned 192,815 shares in the company, valued at approximately $21,346,548.65. This represents a 16.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 73,777 shares of company stock valued at $7,899,863. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC increased its stake in shares of SEI Investments by 95.1% in the third quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager’s stock worth $25,000 after buying an additional 117 shares during the period. Ashton Thomas Securities LLC boosted its position in SEI Investments by 1.9% during the 3rd quarter. Ashton Thomas Securities LLC now owns 6,190 shares of the asset manager’s stock valued at $635,000 after buying an additional 117 shares during the period. Elevation Wealth Partners LLC boosted its position in SEI Investments by 41.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 438 shares of the asset manager’s stock valued at $45,000 after buying an additional 129 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in SEI Investments by 7.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the asset manager’s stock valued at $168,000 after buying an additional 133 shares during the period. Finally, Root Financial Partners LLC grew its holdings in SEI Investments by 40.8% in the 1st 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 last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.