Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells 1,372 Shares of Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

SEI Investments Trading Down 0.3 %

Shares of NASDAQ:SEIC opened at $75.77 on Friday. The stock has a 50 day moving average of $82.11 and a 200 day moving average of $77.52. The company has a market cap of $9.62 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is 22.17%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its stake in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the period. Aurora Investment Counsel boosted its stake in SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after purchasing an additional 144 shares during the period. Venturi Wealth Management LLC boosted its stake in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC boosted its stake in SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after purchasing an additional 145 shares during the period. Finally, Principal Securities Inc. boosted its stake in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SEIC. Oppenheimer boosted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.00.

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.