Alfred P. West, Jr. Sells 94,158 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 94,158 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now owns 7,284,964 shares of the company's stock, valued at $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

SEI Investments Trading Down 0.7 %

SEIC traded down $0.61 on Tuesday, reaching $85.12. The stock had a trading volume of 808,239 shares, compared to its average volume of 599,483. The firm has a 50-day moving average of $78.79 and a 200-day moving average of $70.94. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the business earned $0.87 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments declared that its board has initiated a stock repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, December 27th. This is an increase from SEI Investments's previous semi-annual dividend of $0.46. This represents a yield of 1.1%. SEI Investments's payout ratio is presently 23.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, SEI Investments presently has a consensus rating of "Hold" and a consensus price target of $77.50.

Institutional Trading of SEI Investments

A number of large investors have recently bought and sold shares of SEIC. Geode Capital Management LLC increased its stake in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after purchasing an additional 300,704 shares in the last quarter. Dimensional Fund Advisors LP increased its position in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock valued at $89,291,000 after buying an additional 222,631 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SEI Investments by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager's stock worth $76,751,000 after buying an additional 36,810 shares during the period. FMR LLC boosted its holdings in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after acquiring an additional 632,024 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager's stock valued at $37,791,000 after acquiring an additional 10,576 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Company Profile

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.