Alfred P. West, Jr. Sells 1,372 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 1,372 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. This represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SEI Investments Trading Down 1.3 %

SEI Investments stock traded down $1.01 during mid-day trading on Monday, hitting $74.77. The stock had a trading volume of 259,214 shares, compared to its average volume of 594,333. The stock has a 50-day simple moving average of $82.11 and a two-hundred day simple moving average of $77.60. The stock has a market capitalization of $9.49 billion, a PE ratio of 16.91, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Remove Ads

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is a boost from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments's payout ratio is presently 22.17%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock valued at $61,241,000 after buying an additional 632,024 shares during the period. Norges Bank bought a new stake in shares of SEI Investments in the 4th quarter valued at about $48,009,000. Raymond James Financial Inc. acquired a new stake in shares of SEI Investments in the 4th quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC bought a new position in SEI Investments during the 4th quarter worth approximately $26,702,000. Finally, Geode Capital Management LLC grew its holdings in SEI Investments by 13.5% during 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 during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Morgan Stanley increased their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, January 3rd. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments has an average rating of "Hold" and a consensus target price of $90.00.

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.