SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. Sells 66,126 Shares

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the sale, the chairman now owns 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. This represents a 0.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

SEI Investments Price Performance

NASDAQ SEIC traded up $0.32 during trading hours on Tuesday, reaching $84.97. The company's stock had a trading volume of 1,024,567 shares, compared to its average volume of 714,960. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.41 and a beta of 0.90. The company's 50-day moving average is $78.07 and its two-hundred day moving average is $80.28. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Equities analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has initiated a stock buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 9th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 21.30%.

Institutional Trading of SEI Investments

Several institutional investors have recently modified their holdings of SEIC. Geode Capital Management LLC increased its position in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after purchasing an additional 60,307 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of SEI Investments by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock worth $134,487,000 after purchasing an additional 111,065 shares during the period. Boston Trust Walden Corp increased its position in shares of SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after acquiring an additional 19,150 shares during the last quarter. FMR LLC increased its position in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after acquiring an additional 348,112 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of analyst reports. Piper Sandler lifted their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on shares of SEI Investments from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

About SEI Investments

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.