SEI Investments (NASDAQ:SEIC) Chairman Sells $640,743.48 in Stock

Key Points

• SEI Investments Chairman Alfred West, Jr. sold 7,332 shares on June 29 for about $640,743, leaving him with 6,818,451 shares. The sale reduced his ownership by just 0.11% and was disclosed in an SEC filing.
• SEIC stock slipped 1.1% to $86.31 on Monday, with trading volume below its average. The company has a market cap of about $10.38 billion and shares have traded between $75.08 and $93.96 over the past year.
• SEI Investments recently reported better-than-expected quarterly earnings of $1.44 per share, though revenue missed estimates at $622.18 million. Analysts currently have a Moderate Buy rating on the stock with an average price target of $103.00.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) Chairman Alfred West, Jr. sold 7,332 shares of SEI Investments stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.39, for a total transaction of $640,743.48. Following the completion of the sale, the chairman owned 6,818,451 shares in the company, valued at $595,864,432.89. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SEI Investments Stock Down 1.1%

Shares of SEIC stock traded down $0.94 during trading on Monday, reaching $86.31. The company's stock had a trading volume of 316,051 shares, compared to its average volume of 805,262. SEI Investments Company has a one year low of $75.08 and a one year high of $93.96. The business has a fifty day moving average price of $89.12 and a 200-day moving average price of $84.53. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 14.73 and a beta of 0.97. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same quarter last year, the firm earned $1.17 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts anticipate that SEI Investments Company will post 5.89 earnings per share for the current year.

SEI Investments Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments's payout ratio is currently 17.75%.

Institutional Trading of SEI Investments

A number of hedge funds have recently made changes to their positions in SEIC. Allworth Financial LP increased its holdings in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock worth $37,000 after acquiring an additional 132 shares during the last quarter. Commerce Bank lifted its holdings in SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager's stock valued at $825,000 after purchasing an additional 133 shares during the last quarter. Root Financial Partners LLC lifted its holdings in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in SEI Investments by 1.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager's stock worth $981,000 after purchasing an additional 141 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in SEI Investments by 1.2% during the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager's stock worth $965,000 after purchasing an additional 149 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on SEIC. Morgan Stanley reduced their price target on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Raymond James Financial reissued an "outperform" rating and issued a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Seven 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, SEI Investments has an average rating of "Moderate Buy" and an average price target of $103.00.

SEI Investments Company Profile

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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