SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 94,158 Shares

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $85.73, for a total value of $8,072,165.34. Following the sale, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SEI Investments Price Performance

SEI Investments stock opened at $80.76 on Thursday. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.62 and a beta of 0.98. The firm has a 50-day moving average of $78.98 and a 200-day moving average of $71.01. SEI Investments has a one year low of $61.58 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments Increases Dividend

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

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SEIC. Envestnet Portfolio Solutions Inc. grew its holdings in SEI Investments by 55.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,549 shares of the asset manager’s stock worth $488,000 after purchasing an additional 2,681 shares during the period. Raymond James & Associates boosted its stake in shares of SEI Investments by 4.8% during the 2nd quarter. Raymond James & Associates now owns 524,631 shares of the asset manager’s stock worth $33,938,000 after acquiring an additional 24,058 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of SEI Investments by 12.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the asset manager’s stock worth $849,000 after acquiring an additional 1,490 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in SEI Investments by 24.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 8,753 shares of the asset manager’s stock valued at $566,000 after acquiring an additional 1,711 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in SEI Investments during the 2nd quarter valued at $193,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SEIC shares. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler boosted their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.