SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 19,363 Shares of Stock

SEI Investments (NASDAQ:SEICGet Free Report) Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the sale, the chairman now directly owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SEI Investments Trading Down 1.6 %

Shares of SEIC stock opened at $70.78 on Tuesday. The company has a market capitalization of $9.30 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.50 and a beta of 1.02. The business’s 50 day moving average is $67.54 and its two-hundred day moving average is $62.35. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments (NASDAQ:SEICGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $484.86 million for the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, research analysts predict that SEI Investments will post 4 earnings per share for the current fiscal year.

SEI Investments declared that its board has authorized a stock repurchase plan on Friday, December 15th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently made changes to their positions in SEIC. Morgan Stanley lifted its position in shares of SEI Investments by 670.4% in the fourth quarter. Morgan Stanley now owns 6,519,582 shares of the asset manager’s stock valued at $380,092,000 after acquiring an additional 5,673,374 shares in the last quarter. Norges Bank purchased a new position in shares of SEI Investments in the fourth quarter valued at approximately $31,250,000. Invesco Ltd. lifted its position in shares of SEI Investments by 73.1% in the third quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after acquiring an additional 475,226 shares in the last quarter. State Street Corp lifted its position in SEI Investments by 8.0% during the first quarter. State Street Corp now owns 6,143,049 shares of the asset manager’s stock worth $369,873,000 after buying an additional 452,434 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in SEI Investments by 299.3% during the third quarter. Acadian Asset Management LLC now owns 477,981 shares of the asset manager’s stock worth $28,778,000 after buying an additional 358,282 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SEIC shares. Piper Sandler raised their target price on SEI Investments from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Finally, Oppenheimer increased their price target on SEI Investments from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.00.

Check Out Our Latest Stock Analysis on SEI Investments

About SEI Investments

(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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Insider Buying and Selling by Quarter for SEI Investments (NASDAQ:SEIC)

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