Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells $4,362,500.00 in Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total value of $4,362,500.00. Following the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SEI Investments Stock Up 2.7%

SEI Investments stock opened at $90.05 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a market cap of $10.83 billion, a PE ratio of 15.37 and a beta of 0.97. The stock’s 50 day moving average price is $89.60 and its 200 day moving average price is $84.64.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.SEI Investments’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. On average, sell-side analysts predict that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio is 17.75%.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently made changes to their positions in SEIC. Community Bank N.A. purchased a new position in SEI Investments during the 3rd quarter valued at about $35,000. Allworth Financial LP lifted its holdings in shares of 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 in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC grew its position in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEIC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Morgan Stanley reduced their price target on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and an average price target of $103.00.

About SEI Investments

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.