SEI Investments (NASDAQ:SEIC) EVP Philip Mccabe Sells 10,500 Shares

SEI Investments (NASDAQ:SEIC) EVP Philip Mccabe sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares in the company, valued at approximately $3,305,425.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

SEI Investments Stock Performance

SEIC stock traded up $0.39 during trading on Tuesday, reaching $76.20. 730,608 shares of the company traded hands, compared to its average volume of 587,813. The business has a 50 day simple moving average of $69.12 and a 200 day simple moving average of $67.41. SEI Investments has a 12 month low of $52.95 and a 12 month high of $76.51. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period last year, the business earned $0.87 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently made changes to their positions in SEIC. State of Michigan Retirement System increased its position in SEI Investments by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock valued at $1,914,000 after buying an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SEI Investments by 1.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock valued at $6,185,000 after acquiring an additional 1,391 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of SEI Investments in the 1st quarter valued at approximately $717,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in SEI Investments by 64.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock worth $446,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its position in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after purchasing an additional 244 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Finally, Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Company Profile

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.