SEI Investments (NASDAQ:SEIC) EVP Sells $139,600.00 in Stock

SEI Investments (NASDAQ:SEIC) EVP Paul Klauder sold 2,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $69.80, for a total value of $139,600.00. Following the sale, the executive vice president now directly owns 20,752 shares of the company’s stock, valued at $1,448,489.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SEI Investments Trading Up 0.6 %

Shares of SEIC stock traded up $0.41 during mid-day trading on Thursday, reaching $72.43. The stock had a trading volume of 146,436 shares, compared to its average volume of 586,869. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.46. The company has a market cap of $9.51 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The business has a 50-day simple moving average of $67.06 and a 200 day simple moving average of $62.11.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The business had revenue of $484.86 million during the quarter, compared to analysts’ expectations of $481.39 million. During the same quarter last year, the business posted $0.83 earnings per share. Research analysts anticipate that SEI Investments will post 4 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Friday, December 15th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SEIC. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SEI Investments during the 4th quarter worth about $6,990,000. Fisher Asset Management LLC increased its position in SEI Investments by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,648 shares of the asset manager’s stock worth $550,000 after purchasing an additional 500 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in SEI Investments during the 4th quarter worth about $61,000. Aurora Investment Counsel increased its position in SEI Investments by 3.9% during the 4th quarter. Aurora Investment Counsel now owns 24,028 shares of the asset manager’s stock worth $1,527,000 after purchasing an additional 897 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in SEI Investments by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,091 shares of the asset manager’s stock worth $3,248,000 after purchasing an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.