Ryan Hicke Sells 37,500 Shares of SEI Investments (NASDAQ:SEIC) Stock

Key Points

• CEO Ryan Hicke sold 37,500 SEI Investments shares at an average price of $110.71, generating $4.15 million and reducing his position by 16.28% to 192,815 shares.
• SEI Investments recently exceeded quarterly expectations, reporting $1.66 in earnings per share versus the $1.44 consensus estimate and revenue of $641.62 million, up 14.7% year over year.
• Analysts maintain a favorable outlook, with six Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $122.60; institutional investors own 70.59% of the stock.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) CEO Ryan Hicke sold 37,500 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the completion of the sale, the chief executive officer owned 192,815 shares of the company's stock, valued at $21,346,548.65. This trade represents a 16.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SEI Investments Trading Down 1.6%

Shares of SEIC traded down $1.79 during trading hours on Tuesday, reaching $108.60. 846,055 shares of the company traded hands, compared to its average volume of 777,793. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 19.15 and a beta of 0.97. The stock's fifty day moving average price is $102.70 and its 200 day moving average price is $91.01. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $112.15.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. The firm had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company's revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. Sell-side analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current year.

Analyst Ratings Changes

SEIC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research note on Friday, July 17th. Raymond James Financial lifted their price target on SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Morgan Stanley upped their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Piper Sandler upped their price objective on SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, SEI Investments has an average rating of "Moderate Buy" and an average price target of $122.60.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in SEI Investments by 8,074.1% during the 2nd quarter. California State Teachers Retirement System now owns 10,288,383 shares of the asset manager's stock worth $902,394,000 after acquiring an additional 10,162,517 shares during the period. BlackRock Inc. purchased a new position in SEI Investments in the second quarter valued at about $870,745,000. Bank of America Corp DE raised its holdings in SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock worth $284,015,000 after purchasing an additional 133,057 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock worth $237,421,000 after buying an additional 109,974 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of SEI Investments by 19.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock valued at $157,263,000 after purchasing an additional 308,988 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other 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.

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