Alfred West Jr Sells 50,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments Company (NASDAQ:SEIC) Chairman Alfred West, Jr. sold 50,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the sale, the chairman directly owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SEI Investments Stock Performance

Shares of SEI Investments stock traded down $0.94 on Monday, hitting $86.31. 316,051 shares of the company’s stock were exchanged, compared to its average volume of 805,262. The stock has a market capitalization of $10.38 billion, a PE ratio of 14.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The company has a 50-day simple moving average of $89.12 and a 200-day simple moving average of $84.53. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. SEI Investments’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid 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 dividend payout ratio is 17.75%.

Institutional Trading of SEI Investments

Several hedge funds have recently bought and sold shares of SEIC. NewEdge Advisors LLC boosted its holdings in shares of SEI Investments by 7.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,894 shares of the asset manager’s stock valued at $384,000 after purchasing an additional 346 shares during the last quarter. Henshaw Capital LLC boosted its stake in SEI Investments by 0.6% during the first quarter. Henshaw Capital LLC now owns 43,101 shares of the asset manager’s stock valued at $3,382,000 after buying an additional 258 shares during the last quarter. Glenmede Trust Co. NA boosted its stake 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 valued at $965,000 after buying an additional 149 shares during the last quarter. Front Street Capital Management Inc. grew its holdings in SEI Investments by 17.8% during the 1st quarter. Front Street Capital Management Inc. now owns 1,330 shares of the asset manager’s stock valued at $104,000 after buying an additional 201 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in SEI Investments in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Piper Sandler restated 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 stock. According to data from MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and a consensus target price of $103.00.

About SEI Investments

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.