SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke Sells 35,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

SEI Investments Stock Up 0.2%

NASDAQ SEIC opened at $88.40 on Thursday. The company has a market cap of $10.93 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The firm’s 50-day simple moving average is $88.87 and its two-hundred day simple moving average is $82.46.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. As a group, equities research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a $0.49 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. SEI Investments’s dividend payout ratio is 18.39%.

Analysts Set New Price Targets

SEIC has been the subject of several recent research reports. Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Morgan Stanley reiterated an “overweight” rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Finally, Piper Sandler cut their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently modified their holdings of the company. Wellington Capital Management Inc. bought a new position in shares of SEI Investments in the second quarter valued at approximately $4,510,000. Evergreen Capital Management LLC bought a new position in shares of SEI Investments in the second quarter valued at approximately $607,000. Corient Private Wealth LLC raised its stake in SEI Investments by 205.4% in the second quarter. Corient Private Wealth LLC now owns 37,672 shares of the asset manager’s stock valued at $3,385,000 after purchasing an additional 25,337 shares in the last quarter. WealthCollab LLC raised its stake in SEI Investments by 33.7% in the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 193 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in SEI Investments by 2.0% in the second quarter. Captrust Financial Advisors now owns 21,470 shares of the asset manager’s stock valued at $1,929,000 after purchasing an additional 430 shares in the last quarter. 70.59% of the stock is currently 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.