Insider Selling: SEI Investments (NASDAQ:SEIC) Director Sells 7,564 Shares of Stock

SEI Investments (NASDAQ:SEIC) Director Carl Guarino sold 7,564 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the transaction, the director now owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SEI Investments Price Performance

SEIC traded up $0.39 during trading hours on Tuesday, hitting $76.20. 730,608 shares of the stock were exchanged, compared to its average volume of 587,813. The stock has a 50-day simple moving average of $69.12 and a 200-day simple moving average of $67.41. SEI Investments has a 12 month low of $52.95 and a 12 month high of $76.51. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for 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%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. Sell-side analysts expect that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD bought a new stake in SEI Investments in the second quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt raised 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 valued at $38,000 after purchasing an additional 500 shares in the last quarter. Bessemer Group Inc. raised 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 valued at $43,000 after purchasing an additional 386 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $41,000 after purchasing an additional 275 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SEIC shares. Piper Sandler increased their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.50.

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.