SEI Investments (NASDAQ:SEIC) Chairman Sells $5,787,296.90 in Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SEI Investments Price Performance

SEI Investments stock traded up $0.56 during midday trading on Wednesday, hitting $76.84. 267,662 shares of the company were exchanged, compared to its average volume of 589,599. The company has a market cap of $9.75 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company’s fifty day moving average price is $82.58 and its 200-day moving average price is $77.40.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a $0.49 dividend. This represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio is 22.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Oppenheimer boosted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments presently has an average rating of “Hold” and an average target price of $90.00.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently added to or reduced their stakes in the stock. Boston Trust Walden Corp raised its holdings in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares in the last quarter. Longboard Asset Management LP acquired a new stake in SEI Investments in the 4th quarter valued at about $267,000. CHURCHILL MANAGEMENT Corp acquired a new position in SEI Investments during the fourth quarter worth approximately $1,818,000. Lecap Asset Management Ltd. purchased a new stake in shares of SEI Investments during the fourth quarter valued at approximately $480,000. Finally, Portfolio Design Labs LLC lifted its holdings in SEI Investments by 22.5% during the 4th quarter. Portfolio Design Labs LLC now owns 30,102 shares of the asset manager’s stock worth $2,483,000 after buying an additional 5,522 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.