Ryan Hicke Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEICGet Free Report) CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

SEI Investments Stock Performance

SEIC stock opened at $76.27 on Thursday. The business has a 50-day simple moving average of $69.49 and a two-hundred day simple moving average of $67.54. The company has a market capitalization of $9.91 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. SEI Investments has a 52-week low of $53.37 and a 52-week high of $76.95.

SEI Investments (NASDAQ:SEICGet Free Report) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts forecast that SEI Investments will post 4.38 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer boosted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.50.

Check Out Our Latest Stock Analysis on SEI Investments

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new position in SEI Investments during the second quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after buying an additional 275 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 386 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

About SEI Investments

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for SEI Investments (NASDAQ:SEIC)

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