Ryan Hicke Sells 37,500 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments Company (NASDAQ:SEIC) CEO Ryan Hicke sold 37,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 192,815 shares of the company’s stock, valued at $21,346,548.65. The trade was a 16.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

SEI Investments Stock Down 1.3%

Shares of NASDAQ:SEIC opened at $107.17 on Thursday. The business’s 50 day moving average is $103.46 and its 200 day moving average is $91.39. The stock has a market cap of $12.86 billion, a P/E ratio of 18.90 and a beta of 0.97. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $112.15. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. During the same period in the prior year, the business earned $1.78 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts predict that SEI Investments Company will post 6.2 EPS for the current year.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC grew its position 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 worth $37,000 after buying an additional 339 shares during the last quarter. Root Financial Partners LLC raised its stake 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 worth $38,000 after acquiring an additional 141 shares in the last quarter. Geneos Wealth Management Inc. raised its stake 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 worth $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new stake in SEI Investments during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the topic of several recent research reports. Piper Sandler increased their target price on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

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.