SEI Investments (NASDAQ:SEIC) Chairman Sells 5,483 Shares of Stock

Key Points

• Chairman Alfred West Jr. sold 5,483 SEI Investments shares at an average price of $103.16, generating approximately $565,626. He retained 6.78 million shares worth about $699.9 million, reducing his ownership by just 0.08%.
• SEI Investments exceeded quarterly expectations, reporting EPS of $1.66 versus the $1.44 consensus and revenue of $641.62 million. Revenue increased 14.7% year over year, while analysts expect full-year EPS of $6.21.
• Analyst sentiment remains favorable, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $122.60. Institutional investors own 70.59% of the company.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) Chairman Alfred West, Jr. sold 5,483 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $103.16, for a total transaction of $565,626.28. Following the completion of the sale, the chairman owned 6,784,574 shares in the company, valued at $699,896,653.84. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SEI Investments Price Performance

NASDAQ:SEIC traded up $1.21 during trading hours on Thursday, reaching $103.87. 661,208 shares of the company's stock were exchanged, compared to its average volume of 790,714. The company has a market capitalization of $12.47 billion, a P/E ratio of 18.32 and a beta of 0.97. SEI Investments Company has a 12 month low of $75.08 and a 12 month 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 business's 50-day simple moving average is $106.10 and its two-hundred day simple moving average is $93.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (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 analysts' expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The firm's revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. Sell-side analysts expect that SEI Investments Company will post 6.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Elevation Wealth Partners LLC boosted its position in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock worth $27,000 after buying an additional 152 shares during the period. Root Financial Partners LLC raised its position in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after buying an additional 141 shares during the period. CX Institutional raised its position in SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager's stock valued at $47,000 after buying an additional 164 shares during the period. Western Wealth Management LLC acquired a new position in SEI Investments during the first quarter valued at $43,000. Finally, Rothschild Investment LLC lifted its stake in SEI Investments by 266.9% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the asset manager's stock worth $46,000 after acquiring an additional 411 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Piper Sandler increased their price target on SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Morgan Stanley boosted their price objective on SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.60.

SEI Investments Company Profile

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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