SEI Investments (NASDAQ:SEIC) Director Carmen Romeo Sells 5,000 Shares

SEI Investments (NASDAQ:SEIC) Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SEI Investments Trading Down 0.1 %

SEIC stock opened at $80.11 on Friday. The firm has a market cap of $10.33 billion, a PE ratio of 19.35, a PEG ratio of 1.52 and a beta of 0.97. SEI Investments has a 1 year low of $55.64 and a 1 year high of $80.81. The company has a fifty day simple moving average of $70.94 and a 200 day simple moving average of $68.07.

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

SEI Investments declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of SEI Investments in the first quarter valued at about $14,172,000. Jupiter Asset Management Ltd. bought a new position in shares of SEI Investments in the second quarter worth about $7,787,000. West Coast Financial LLC increased its stake in shares of SEI Investments by 120.8% in the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in SEI Investments by 67.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after purchasing an additional 58,808 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.