SEI Investments (NASDAQ:SEIC) Sees Strong Trading Volume - Here's What Happened

SEI Investments (NASDAQ:SEIC - Get Free Report) saw strong trading volume on Friday . 318,265 shares changed hands during mid-day trading, a decline of 38% from the previous session's volume of 513,192 shares.The stock last traded at $84.26 and had previously closed at $84.26.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $76.00 to $86.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SEI Investments currently has an average rating of "Hold" and an average target price of $86.75.

SEI Investments Trading Up 0.7 %

The company has a fifty day moving average of $82.72 and a 200-day moving average of $74.18. The stock has a market cap of $10.94 billion, a PE ratio of 20.50, a P/E/G ratio of 1.44 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during 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 revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. As a group, research analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a $0.49 dividend. The ex-dividend date was 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 dividend payout ratio (DPR) is 23.67%.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm's 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 directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Mccabe sold 10,500 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.91, for a total value of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares of the company's stock, valued at approximately $3,305,425.04. This represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,258 shares of company stock valued at $17,139,652 in the last quarter. Corporate insiders own 14.30% of the company's stock.

Institutional Investors Weigh In On SEI Investments

Several institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its holdings in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of SEI Investments in the 3rd quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% in 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 during the last quarter. Finally, Quarry LP acquired a new stake in shares of SEI Investments in the 2nd quarter valued at about $136,000. 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.