Ryan Hicke Sells 21,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the sale, the chief executive officer now owns 171,260 shares of the company’s stock, valued at approximately $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

SEI Investments Stock Performance

Shares of SEIC opened at $85.38 on Monday. The firm has a market cap of $10.63 billion, a PE ratio of 19.32, a PEG ratio of 1.41 and a beta of 0.90. The firm’s 50 day moving average price is $76.04 and its 200 day moving average price is $79.86. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. On average, sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock valued at $212,589,000 after acquiring an additional 60,307 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SEI Investments by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock valued at $134,487,000 after purchasing an additional 111,065 shares during the period. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.5% in the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager’s stock valued at $102,897,000 after purchasing an additional 19,150 shares during the period. FMR LLC raised its position in shares of SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after purchasing an additional 348,112 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and set a $82.00 price target (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, May 10th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Oppenheimer restated an “outperform” rating on shares of SEI Investments in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

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.