Insider Selling: SEI Investments (NASDAQ:SEIC) Chairman Sells 150,000 Shares of Stock

SEI Investments (NASDAQ:SEIC) Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the transaction, the chairman now owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

SEI Investments Price Performance

SEI Investments stock traded down $0.14 during mid-day trading on Thursday, hitting $71.88. 307,373 shares of the company were exchanged, compared to its average volume of 589,401. The company has a market capitalization of $9.44 billion, a P/E ratio of 20.76, a PEG ratio of 1.47 and a beta of 1.01. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The business’s 50 day simple moving average is $67.06 and its two-hundred day simple moving average is $62.11.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The firm had revenue of $484.86 million during the quarter, compared to analyst estimates of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same period in the previous year, the company earned $0.83 earnings per share. Equities research analysts predict that SEI Investments will post 4 earnings per share for the current year.

SEI Investments announced that its board has initiated a share buyback plan on Friday, December 15th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to purchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently made changes to their positions in SEIC. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $6,990,000. Fisher Asset Management LLC increased its position in shares of SEI Investments by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,648 shares of the asset manager’s stock worth $550,000 after buying an additional 500 shares during the period. Neo Ivy Capital Management bought a new position in shares of SEI Investments in the fourth quarter valued at $61,000. Aurora Investment Counsel lifted its position in shares of SEI Investments by 3.9% during the fourth quarter. Aurora Investment Counsel now owns 24,028 shares of the asset manager’s stock valued at $1,527,000 after purchasing an additional 897 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in SEI Investments by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,091 shares of the asset manager’s stock worth $3,248,000 after acquiring an additional 607 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of several recent research reports. Oppenheimer lifted their target price on shares of SEI Investments from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Morgan Stanley raised their price objective on SEI Investments from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Friday, December 1st. Piper Sandler boosted their price objective on SEI Investments from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Finally, StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

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.