Alfred P. West, Jr. Sells 52,042 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SEI Investments Price Performance

NASDAQ:SEIC traded down $0.61 during trading hours on Tuesday, hitting $85.12. The stock had a trading volume of 808,239 shares, compared to its average volume of 599,483. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a one year low of $61.58 and a one year high of $87.25. The company has a 50 day simple moving average of $78.79 and a two-hundred day simple moving average of $70.94.

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

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

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. This represents a yield of 1.1%. SEI Investments's payout ratio is 23.67%.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after buying an additional 300,704 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock valued at $89,291,000 after acquiring an additional 222,631 shares during the last quarter. Bank of New York Mellon Corp grew its position in SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager's stock valued at $76,751,000 after acquiring an additional 36,810 shares during the last quarter. FMR LLC raised its stake in shares of SEI Investments by 249.7% during 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 lifted its holdings in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager's stock worth $37,791,000 after acquiring an additional 10,576 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SEIC. Morgan Stanley raised their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Oppenheimer boosted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Piper Sandler raised their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research note 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $77.50.

About SEI Investments

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.