Alfred P. West, Jr. Sells 61,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $67.46 on Friday. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The company has a market cap of $8.86 billion, a P/E ratio of 18.43, a PEG ratio of 1.33 and a beta of 0.99. The stock’s fifty day moving average price is $66.19 and its 200-day moving average price is $67.23.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that SEI Investments will post 4.19 earnings per share for the current year.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Aurora Investment Counsel raised its stake in SEI Investments by 1.6% during the 2nd quarter. Aurora Investment Counsel now owns 25,018 shares of the asset manager’s stock valued at $1,618,000 after buying an additional 395 shares during the last quarter. Brandes Investment Partners LP increased its position in SEI Investments by 34.6% during the second quarter. Brandes Investment Partners LP now owns 13,810 shares of the asset manager’s stock valued at $893,000 after acquiring an additional 3,550 shares during the last quarter. Quarry LP bought a new position in SEI Investments in the second quarter valued at about $136,000. Northwestern Mutual Wealth Management Co. boosted its position in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of SEI Investments by 29.4% during the 2nd quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock valued at $766,000 after purchasing an additional 2,689 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SEIC shares. Piper Sandler dropped their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. 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 research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.25.

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.