Michael Peterson Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $514,410. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Michael Peterson also recently made the following trade(s):

• On Friday, October 25th, Michael Peterson sold 25,000 shares of SEI Investments stock. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00.

SEI Investments Stock Performance

Shares of SEIC stock opened at $80.11 on Friday. The stock has a fifty day moving average price of $70.94 and a 200 day moving average price of $68.08. The stock has a market cap of $10.33 billion, a PE ratio of 19.35, a P/E/G ratio of 1.52 and a beta of 0.97. SEI Investments has a 1 year low of $55.64 and a 1 year high of $80.81.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, equities research analysts predict that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler increased their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Morgan Stanley raised their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.50.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in SEIC. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments during the second quarter valued at about $30,000. First Horizon Advisors Inc. grew its position in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.