SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 52,042 Shares

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 52,042 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the transaction, the chairman now directly owns 7,232,922 shares of the company's stock, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SEI Investments Trading Down 0.7 %

SEIC stock opened at $85.12 on Wednesday. The stock has a 50-day moving average price of $78.79 and a two-hundred day moving average price of $70.94. SEI Investments has a 1 year low of $61.58 and a 1 year high of $87.25. The stock has a market cap of $10.97 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. During the same period in the prior year, the firm earned $0.87 earnings per share. SEI Investments's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.


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SEI Investments announced that its Board of Directors has approved a share buyback program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

SEI Investments Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the 2nd quarter valued at $30,000. First Horizon Advisors Inc. grew its holdings in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of SEI Investments in the third quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock worth $77,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Analysts Set New Price Targets

SEIC has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $77.50.

Check Out Our Latest Analysis on SEI Investments

SEI Investments Company Profile

(Get Free Report)

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.

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