SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 52,042 Shares

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SEI Investments Stock Performance

NASDAQ SEIC opened at $85.12 on Wednesday. The stock has a market capitalization of $10.97 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a 52 week low of $61.58 and a 52 week high of $87.25. The stock has a fifty day moving average of $78.79 and a 200-day moving average of $70.94.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 earnings per share. Equities research analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be given a dividend of $0.49 per share. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 23.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SEIC. Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Oppenheimer increased their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DGS Capital Management LLC lifted its stake in shares of SEI Investments by 14.4% in the 3rd quarter. DGS Capital Management LLC now owns 11,518 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 1,448 shares during the period. Franklin Resources Inc. grew its stake in shares of SEI Investments by 17.8% during the third quarter. Franklin Resources Inc. now owns 320,482 shares of the asset manager’s stock worth $22,799,000 after purchasing an additional 48,429 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in SEI Investments in the third quarter valued at about $374,000. Sanctuary Advisors LLC lifted its stake in SEI Investments by 38.8% in the third quarter. Sanctuary Advisors LLC now owns 57,841 shares of the asset manager’s stock valued at $4,002,000 after buying an additional 16,162 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in SEI Investments by 10.2% during the third quarter. Toronto Dominion Bank now owns 40,991 shares of the asset manager’s stock worth $2,836,000 after buying an additional 3,784 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

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.