SEI Investments (NASDAQ:SEIC) Chairman Alfred West, Jr. Sells 50,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 50,000 shares of SEI Investments stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SEI Investments Stock Performance

SEI Investments stock opened at $86.49 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The firm has a market capitalization of $10.40 billion, a P/E ratio of 14.76 and a beta of 0.97. The company’s 50-day moving average is $89.27 and its 200 day moving average is $84.56.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. Research analysts forecast that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is currently 17.75%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley cut their price objective on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Raymond James Financial reissued an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and an average price target of $103.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SEIC. Community Bank N.A. bought a new stake in SEI Investments during the 3rd quarter valued at $35,000. Allworth Financial LP grew its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares during the period. Root Financial Partners LLC increased its stake in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.