SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 94,158 Shares of Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 94,158 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the sale, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SEI Investments Price Performance

SEI Investments stock opened at $85.12 on Wednesday. SEI Investments has a 1 year low of $61.58 and a 1 year high of $87.25. The firm’s 50 day moving average price is $78.79 and its 200-day moving average price is $70.94. The stock has a market cap of $10.97 billion, a P/E ratio of 20.56, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data 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 return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be paid a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio is presently 23.67%.

SEI Investments declared that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on SEIC shares. Piper Sandler boosted their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price objective 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, Oppenheimer increased their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Texas Permanent School Fund Corp lifted its stake in shares of SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after purchasing an additional 8,387 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in SEI Investments by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after buying an additional 8,094 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in SEI Investments by 12.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after buying an additional 8,243 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in SEI Investments during the third quarter worth $1,701,000. Finally, First Citizens Bank & Trust Co. boosted its stake in SEI Investments by 24.3% during the second quarter. First Citizens Bank & Trust Co. now owns 8,753 shares of the asset manager’s stock worth $566,000 after buying an additional 1,711 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.