Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells 52,042 Shares of Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the transaction, the chairman now directly owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SEI Investments Stock Down 5.1 %

SEI Investments stock opened at $80.76 on Thursday. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 12-month low of $61.58 and a 12-month high of $87.25. The business’s 50-day simple moving average is $78.98 and its 200 day simple moving average is $71.01.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. As a group, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

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

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.49 per share. This represents a yield of 1.1%. The ex-dividend date is Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is currently 23.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEIC. Oppenheimer upped their price target on shares of 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 target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aurora Investment Counsel lifted its stake in SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after buying an additional 144 shares during the period. IFG Advisory LLC raised its position in shares of SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after acquiring an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in SEI Investments by 16.3% during the 2nd 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 during the last quarter. Creative Planning grew its holdings in SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the period. Finally, Signaturefd LLC grew its holdings in SEI Investments by 7.8% during the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after purchasing an additional 213 shares during the period. 70.59% of the stock is currently owned by institutional investors.

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.