Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells 70,000 Shares of Stock

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total transaction of $4,803,400.00. Following the completion of the sale, the chairman now directly owns 7,795,471 shares of the company's stock, valued at approximately $534,925,220.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SEI Investments Price Performance

Shares of SEIC stock traded down $0.71 during trading on Monday, reaching $67.79. The company's stock had a trading volume of 377,494 shares, compared to its average volume of 567,922. The stock's 50-day moving average price is $68.67 and its 200 day moving average price is $64.42. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 1.39 and a beta of 1.03. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The company had revenue of $511.58 million for the quarter, compared to the consensus estimate of $510.41 million. During the same period in the prior year, the firm posted $0.79 EPS. The company's quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that SEI Investments will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On SEI Investments

Several large investors have recently bought and sold shares of the stock. Boston Trust Walden Corp lifted its stake in SEI Investments by 1.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager's stock valued at $83,566,000 after buying an additional 24,621 shares during the last quarter. Northern Trust Corp grew its position in SEI Investments by 6.6% during the 3rd quarter. Northern Trust Corp now owns 1,143,777 shares of the asset manager's stock worth $68,890,000 after purchasing an additional 70,937 shares during the last quarter. Invesco Ltd. increased its stake in 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 purchasing an additional 475,226 shares during the period. Brown Advisory Inc. raised its holdings in shares of SEI Investments by 1.6% in the fourth quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager's stock valued at $43,998,000 after buying an additional 10,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SEI Investments by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager's stock worth $41,652,000 after buying an additional 12,453 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $74.00 price objective (up from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, March 2nd. Piper Sandler dropped their target price on shares of SEI Investments from $72.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Finally, Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $71.00.

SEI Investments Company Profile

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.