Insider Selling: SEI Investments (NASDAQ:SEIC) EVP Sells $246,672.00 in Stock

SEI Investments Company (NASDAQ:SEIC) EVP Michael Lane sold 2,400 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the sale, the executive vice president directly owned 39,581 shares in the company, valued at $4,068,135.18. This trade represents a 5.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

SEI Investments Stock Down 0.0%

Shares of SEIC traded down $0.05 during trading hours on Thursday, hitting $104.78. The company had a trading volume of 923,528 shares, compared to its average volume of 795,049. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $12.58 billion, a PE ratio of 18.48 and a beta of 0.97. SEI Investments Company has a one year low of $75.08 and a one year high of $112.15. The company’s fifty day moving average price is $105.58 and its two-hundred day moving average price is $93.06.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter last year, the company earned $1.78 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that SEI Investments Company will post 6.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SEI Investments

Large investors have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new position in SEI Investments in the 2nd quarter worth $3,958,000. Oxbow Advisors LLC purchased a new stake in SEI Investments during the 1st quarter valued at about $3,283,000. Lazard Asset Management LLC grew its stake in SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 17,504 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of SEI Investments by 10.2% in the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock valued at $11,273,000 after purchasing an additional 12,713 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SEI Investments in the first quarter worth about $3,625,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Piper Sandler increased their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, William Blair upgraded SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.60.

About SEI Investments

SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.

Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.