SEI Investments (NASDAQ:SEIC) Chairman Sells $10,612,500.00 in Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now owns 7,884,834 shares in the company, valued at $557,852,005.50. The sale was disclosed in a document filed with the SEC, which is available at this link.

SEI Investments Stock Down 0.2 %

SEIC traded down $0.14 during midday trading on Thursday, hitting $71.88. 307,373 shares of the company traded hands, compared to its average volume of 589,401. The firm has a market capitalization of $9.44 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The company’s 50-day moving average is $67.06 and its 200 day moving average is $62.11. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The firm had revenue of $484.86 million during the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same period in the previous year, the company posted $0.83 earnings per share. On average, sell-side analysts predict that SEI Investments will post 4 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a share repurchase program on Friday, December 15th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SEIC. Diversified Trust Co grew its holdings in SEI Investments by 299.3% during the fourth quarter. Diversified Trust Co now owns 55,230 shares of the asset manager’s stock worth $3,510,000 after acquiring an additional 41,397 shares during the period. Raymond James & Associates raised its holdings in shares of SEI Investments by 4.0% in the third quarter. Raymond James & Associates now owns 474,836 shares of the asset manager’s stock valued at $28,599,000 after buying an additional 18,397 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of SEI Investments by 507.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 88,571 shares of the asset manager’s stock worth $5,335,000 after buying an additional 73,987 shares during the period. Barclays PLC lifted its stake in SEI Investments by 76.2% in the 3rd quarter. Barclays PLC now owns 247,271 shares of the asset manager’s stock valued at $14,892,000 after acquiring an additional 106,967 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in SEI Investments by 18.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,200 shares of the asset manager’s stock valued at $5,553,000 after acquiring an additional 14,225 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on SEIC shares. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Morgan Stanley lifted their target price on SEI Investments from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Friday, December 1st. Piper Sandler lifted their price objective on SEI Investments from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Finally, Oppenheimer increased their target price on SEI Investments from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.00.

About SEI Investments

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.