Insider Selling: SEI Investments (NASDAQ:SEIC) Major Shareholder Sells 83,386 Shares of Stock

SEI Investments (NASDAQ:SEICGet Rating) major shareholder Alfred P. West, Jr. sold 83,386 shares of SEI Investments stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the transaction, the insider now owns 9,136,792 shares in the company, valued at approximately $503,163,135.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

SEI Investments Price Performance

NASDAQ:SEIC opened at $51.82 on Friday. The firm has a 50-day moving average of $55.24 and a 200-day moving average of $56.10. The company has a market cap of $7.02 billion, a PE ratio of 12.43, a PEG ratio of 1.20 and a beta of 0.98. SEI Investments has a one year low of $51.07 and a one year high of $65.22.

SEI Investments (NASDAQ:SEICGet Rating) last posted its earnings results on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). The business had revenue of $481.67 million for the quarter, compared to the consensus estimate of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities research analysts expect that SEI Investments will post 3.71 earnings per share for the current fiscal year.

SEI Investments declared that its board has authorized a stock repurchase program on Wednesday, June 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in SEI Investments by 11.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,795 shares of the asset manager’s stock worth $97,000 after purchasing an additional 189 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in SEI Investments by 4.6% during the first quarter. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager’s stock worth $268,000 after purchasing an additional 194 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in SEI Investments by 1.0% during the second quarter. Valley National Advisers Inc. now owns 19,014 shares of the asset manager’s stock worth $1,037,000 after purchasing an additional 196 shares during the last quarter. Profund Advisors LLC boosted its holdings in SEI Investments by 3.8% during the first quarter. Profund Advisors LLC now owns 5,637 shares of the asset manager’s stock worth $339,000 after purchasing an additional 207 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in SEI Investments by 4.2% during the second quarter. Captrust Financial Advisors now owns 5,694 shares of the asset manager’s stock worth $308,000 after purchasing an additional 230 shares during the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SEIC shares. Keefe, Bruyette & Woods lowered their target price on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Morgan Stanley decreased their price target on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, July 21st. Piper Sandler decreased their price target on shares of SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. Finally, StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average price target of $60.50.

SEI Investments Company Profile

(Get Rating)

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.

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Insider Buying and Selling by Quarter for SEI Investments (NASDAQ:SEIC)

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