SEI Investments (NASDAQ:SEIC) Director Carl Guarino Sells 7,564 Shares

SEI Investments (NASDAQ:SEIC) Director Carl Guarino sold 7,564 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the sale, the director now owns 13,867 shares in the company, valued at approximately $1,050,702.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

SEI Investments Stock Performance

NASDAQ SEIC opened at $76.27 on Thursday. SEI Investments has a one year low of $53.37 and a one year high of $76.95. The company has a market cap of $9.91 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.43 and a beta of 0.99. The business has a fifty day moving average price of $69.49 and a 200 day moving average price of $67.54.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the firm posted $0.87 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD purchased a new position in SEI Investments during the second quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares during the period. Bessemer Group Inc. raised its holdings in shares of SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after acquiring an additional 386 shares during the period. Finally, Mather Group LLC. boosted its position in shares of SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SEIC. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Finally, Piper Sandler raised their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.50.

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.