SEI Investments (NASDAQ:SEIC) EVP Michael Peterson Sells 25,000 Shares

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SEI Investments Price Performance

NASDAQ:SEIC opened at $74.76 on Friday. The stock has a market cap of $9.64 billion, a P/E ratio of 18.06, a PEG ratio of 1.43 and a beta of 0.99. SEI Investments has a one year low of $53.37 and a one year high of $76.95. The company has a fifty day moving average price of $69.49 and a 200 day moving average price of $67.54.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating 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 net margin of 26.60% and a return on equity of 24.29%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. As a group, equities research analysts anticipate that SEI Investments will post 4.38 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of SEI Investments in the 2nd quarter valued at $1,434,000. Mediolanum International Funds Ltd acquired a new position in shares of SEI Investments in the 1st quarter valued at $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of SEI Investments by 20.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after buying an additional 10,670 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock valued at $8,296,000 after buying an additional 20,533 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of SEI Investments in the 1st quarter valued at $14,172,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

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

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.