Alfred P. West, Jr. Sells 75,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman now directly owns 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SEI Investments Price Performance

Shares of SEI Investments stock traded up $0.32 during trading on Tuesday, reaching $84.97. 1,024,567 shares of the stock traded hands, compared to its average volume of 714,960. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The business has a fifty day simple moving average of $78.07 and a two-hundred day simple moving average of $80.28. The company 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.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.31%. SEI Investments's payout ratio is 21.30%.

SEI Investments announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent analyst reports. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Morgan Stanley boosted their price target on SEI Investments from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, William Blair reiterated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Institutional Trading of SEI Investments

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of SEI Investments in the first quarter worth approximately $2,316,000. Geneos Wealth Management Inc. increased its stake in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the period. Bayforest Capital Ltd lifted its position in shares of SEI Investments by 166.8% during the first quarter. Bayforest Capital Ltd now owns 10,021 shares of the asset manager's stock worth $778,000 after purchasing an additional 6,265 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in SEI Investments by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager's stock valued at $62,186,000 after buying an additional 45,019 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in SEI Investments by 135.4% during the 1st quarter. Ascent Group LLC now owns 49,106 shares of the asset manager's stock valued at $3,812,000 after buying an additional 28,241 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

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.