SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 19,010 Shares

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 19,010 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now owns 7,377,506 shares in the company, valued at $608,570,469.94. The trade was a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SEI Investments Price Performance

NASDAQ:SEIC traded up $0.27 during midday trading on Friday, hitting $84.09. The company's stock had a trading volume of 782,467 shares, compared to its average volume of 593,049. SEI Investments has a fifty-two week low of $59.48 and a fifty-two week high of $84.55. The firm has a market cap of $10.84 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.54 and a beta of 0.98. The firm's 50 day moving average is $76.25 and its 200-day moving average is $69.92.

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

SEI Investments declared that its board has authorized a share buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently modified their holdings of SEIC. Aurora Investment Counsel raised its position in SEI Investments by 0.6% during the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock valued at $1,741,000 after acquiring an additional 144 shares in the last quarter. IFG Advisory LLC increased its holdings in shares of SEI Investments by 0.3% during the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager's stock valued at $3,831,000 after purchasing an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock valued at $77,000 after purchasing an additional 168 shares in the last quarter. Creative Planning boosted its holdings in SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after buying an additional 182 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in SEI Investments by 0.4% during the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager's stock worth $3,507,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their target price on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. One investment 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 MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $77.50.

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.

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