SEI Investments (NASDAQ:SEIC) Chairman Alfred West Jr Sells 28,394 Shares of Stock

Key Points

• Chairman Alfred West Jr. sold 28,394 SEI Investments shares at an average price of $103.40, generating approximately $2.94 million. He retained 6.79 million shares worth about $702.1 million.
• SEI Investments reported quarterly EPS of $1.66, exceeding estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• Analyst sentiment remains positive, with seven Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $122.60.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) Chairman Alfred West, Jr. sold 28,394 shares of SEI Investments stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $103.40, for a total transaction of $2,935,939.60. Following the completion of the sale, the chairman owned 6,790,057 shares in the company, valued at approximately $702,091,893.80. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SEI Investments Stock Performance

NASDAQ SEIC traded up $1.21 on Thursday, hitting $103.87. The stock had a trading volume of 661,208 shares, compared to its average volume of 790,714. SEI Investments Company has a one year low of $75.08 and a one year high of $112.15. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 18.32 and a beta of 0.97. The company's 50-day moving average is $106.10 and its two-hundred day moving average is $93.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.78 earnings per share. On average, analysts expect that SEI Investments Company will post 6.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of analyst reports. William Blair upgraded SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Morgan Stanley raised their price target on SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Piper Sandler lifted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.60.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new position in SEI Investments in the second quarter worth approximately $3,958,000. Oxbow Advisors LLC bought a new position in shares of SEI Investments in the first quarter valued at $3,283,000. Lazard Asset Management LLC lifted its position in shares of SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager's stock valued at $2,985,000 after acquiring an additional 17,504 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of SEI Investments during the 1st quarter valued at $3,625,000. Finally, Morningstar Investment Management LLC boosted its stake in shares of SEI Investments by 27.9% during the 1st quarter. Morningstar Investment Management LLC now owns 46,245 shares of the asset manager's stock worth $3,629,000 after acquiring an additional 10,091 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

About SEI Investments

SEI Investments Company NASDAQ: SEIC is a global provider of investment processing, management, and operations solutions. The company serves financial institutions, wealth managers, asset managers, investment managers, and institutional investors through technology-enabled platforms and outsourced services.

Its offerings include investment accounting, fund administration, portfolio management, compliance support, wealth management technology, and data and analytics solutions. SEI also provides investment strategies and manages assets for institutions, advisors, and private clients through its investment management business.

Founded in 1968 by Alfred P.

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