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

SEI Investments (NASDAQ:SEIC - Get Free Report) Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the sale, the chairman now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SEI Investments Price Performance

Shares of SEI Investments stock traded down $0.61 on Monday, hitting $84.65. 1,486,557 shares of the company's stock traded hands, compared to its average volume of 713,712. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a fifty day moving average of $77.94 and a two-hundred day moving average of $80.25.

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, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period in the previous year, the company earned $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently disclosed 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. This is a boost 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 2.32%. The ex-dividend date of this dividend is Monday, June 9th. SEI Investments's dividend payout ratio is presently 21.30%.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently modified their holdings of SEIC. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the fourth quarter valued at approximately $31,000. Allworth Financial LP grew its stake in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares during the last quarter. Geneos Wealth Management Inc. increased its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc raised its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after buying an additional 331 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SEIC. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley restated an "overweight" rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.60.

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.