SEI Investments (NASDAQ:SEIC) Chairman Alfred West, Jr. Sells 7,332 Shares

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 7,332 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.39, for a total transaction of $640,743.48. Following the transaction, the chairman owned 6,818,451 shares of the company’s stock, valued at $595,864,432.89. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SEI Investments Price Performance

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

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter in the prior year, the firm earned $1.17 EPS. SEI Investments’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

Hedge Funds Weigh In On SEI Investments

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in SEI Investments in the 4th quarter valued at about $53,548,000. Clark Capital Management Group Inc. lifted its holdings in shares of SEI Investments by 2,333.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock worth $52,973,000 after acquiring an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of SEI Investments in the fourth quarter worth approximately $43,186,000. Qube Research & Technologies Ltd boosted its position in shares of SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after acquiring an additional 346,696 shares during the last quarter. Finally, Caisse de depot et placement du Quebec grew its holdings in SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after purchasing an additional 317,703 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.