SEI Investments (NASDAQ:SEIC) Sets New 52-Week High - Here's What Happened

SEI Investments (NASDAQ:SEIC - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $72.58 and last traded at $72.50, with a volume of 24306 shares changing hands. The stock had previously closed at $71.68.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SEIC shares. Oppenheimer upped their price objective on shares of SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Piper Sandler lifted their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, SEI Investments presently has an average rating of "Hold" and a consensus price target of $72.25.

SEI Investments Stock Up 1.3 %

The firm's 50-day moving average price is $67.93 and its 200-day moving average price is $67.26. The company has a market cap of $9.54 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. As a group, analysts forecast that SEI Investments will post 4.24 earnings per share for the current year.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company's stock, valued at $513,745,715.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,582 shares of company stock worth $8,942,405. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments during the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after acquiring an additional 500 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of SEI Investments by 184.7% in the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager's stock worth $43,000 after acquiring an additional 386 shares during 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 valued at $41,000 after purchasing an additional 275 shares in the last quarter. Finally, Mather Group LLC. raised its position in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock worth $50,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

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.