Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells $4,412,650.00 in Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 55,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $80.23, for a total value of $4,412,650.00. Following the transaction, the chairman directly owned 6,883,230 shares of the company’s stock, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $79.89 on Friday. The stock’s 50-day simple moving average is $83.45 and its 200-day simple moving average is $83.52. The firm has a market capitalization of $9.77 billion, a PE ratio of 14.19 and a beta of 0.96. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, equities research analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System boosted its stake in SEI Investments by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock worth $2,656,000 after purchasing an additional 129 shares during the period. Allworth Financial LP increased its stake in SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the period. Commerce Bank increased its stake in SEI Investments by 1.3% in the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock valued at $825,000 after purchasing an additional 133 shares during the period. Focus Partners Advisor Solutions LLC raised its holdings in shares of SEI Investments by 1.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after buying an additional 141 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of SEI Investments by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock worth $2,533,000 after buying an additional 153 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group assumed coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price on the stock. Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $106.00 price objective on shares of SEI Investments in a report on Friday, February 20th. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

SEI Investments Company Profile

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.