SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke Sells 80,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the transaction, the chief executive officer owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

SEI Investments Stock Performance

SEIC opened at $88.69 on Tuesday. The business’s 50-day simple moving average is $84.17 and its 200 day simple moving average is $85.01. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The firm has a market capitalization of $10.86 billion, a PE ratio of 15.75 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share repurchase plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to buy up to 6.4% 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.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were given a dividend of $0.52 per share. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s dividend payout ratio is 18.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and a consensus target price of $109.20.

Institutional Trading of SEI Investments

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in SEI Investments by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after buying an additional 30,970 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of SEI Investments by 1.4% in the second quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock valued at $794,475,000 after acquiring an additional 121,198 shares in the last quarter. Bank of America Corp DE grew its stake in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after acquiring an additional 133,057 shares in the last quarter. Dimensional Fund Advisors LP increased its position in SEI Investments by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after acquiring an additional 31,953 shares during the period. Finally, Invesco Ltd. raised its stake in SEI Investments by 4.1% in the 3rd quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock worth $146,920,000 after purchasing an additional 68,873 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.