Alfred P. West, Jr. Sells 72,842 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

SEI Investments Price Performance

Shares of SEIC traded up $0.56 during midday trading on Wednesday, hitting $76.84. The stock had a trading volume of 267,662 shares, compared to its average volume of 589,599. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a 50 day simple moving average of $82.58 and a two-hundred day simple moving average of $77.40. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 22.17%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SEIC. Piper Sandler raised their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer upped their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $90.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP boosted its position in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its stake in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the period. Point72 DIFC Ltd acquired a new position in shares of SEI Investments during the third quarter valued at approximately $45,000. Finally, Rialto Wealth Management LLC purchased a new stake in SEI Investments in the 4th quarter worth approximately $55,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.