SEI Investments (SEIC) Hits New 52-Week Low After Insider Selling

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SEI Investments (NASDAQ:SEIC) reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $49.57 and last traded at $50.89, with a volume of 66538 shares trading hands. The stock had previously closed at $51.31.

Specifically, Director Dennis Mcgonigle sold 15,000 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $51.63, for a total transaction of $774,450.00. Following the transaction, the director now directly owns 592,034 shares of the company’s stock, valued at $30,566,715.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 145,238 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $52.76, for a total transaction of $7,662,756.88. Following the transaction, the insider now directly owns 10,386,713 shares in the company, valued at $548,002,977.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 521,226 shares of company stock worth $27,829,995. 16.50% of the stock is owned by insiders.

SEIC has been the topic of several research analyst reports. BidaskClub raised shares of SEI Investments from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. ValuEngine lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $68.00 to $63.00 in a research note on Wednesday, October 24th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Thursday, August 23rd. Finally, Rosenblatt Securities started coverage on shares of SEI Investments in a research note on Wednesday. They issued a “neutral” rating and a $59.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. SEI Investments has a consensus rating of “Hold” and an average price target of $72.83.

The company has a market cap of $7.98 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Tuesday, October 23rd. The asset manager reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. SEI Investments had a net margin of 31.46% and a return on equity of 30.73%. The firm had revenue of $408.68 million for the quarter, compared to analyst estimates of $410.35 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts forecast that SEI Investments will post 3.19 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC bought a new position in shares of SEI Investments during the second quarter valued at about $100,000. Sterling Investment Advisors Ltd. bought a new position in shares of SEI Investments during the third quarter valued at about $100,000. First Hawaiian Bank bought a new position in shares of SEI Investments during the third quarter valued at about $102,000. SRS Capital Advisors Inc. bought a new position in shares of SEI Investments during the third quarter valued at about $128,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of SEI Investments during the second quarter valued at about $177,000. 69.31% of the stock is currently owned by hedge funds and other institutional investors.

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SEI Investments Company Profile (NASDAQ:SEIC)

SEI Investments Co 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.

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